SAHAYOG MICROFINANCE LTD, V. ASST CIT 8(1)(2), MUMBAI

ITA 3720/MUM/2016

• Counselvise Citation: [2017] 128 COUNSELVISE.COM (IT) 0345 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 07-06-2017
• Appeal Filed By: Assessee
• Bench Allotted: SMC
• Next Hearing Date: 09-05-2017
• Assessment Year: 2012-2013
• Appeal Filed On: 27-05-2016
• Court: TRIBUNAL
• Assessee Lawyers: ALOK SAKSENA
• Keywords: Opportunity of being heard
• Section: 43B

Judgement Text

THE INCOME TAX APPELLATE TRIBUNAL SMC BENCH, MUMBAI BEFORE SHRI B.R. BASKARAN (AM) I.T.A. NO. 3720 /MUM/ 201 6 (ASSESSMENT YEAR 20 12 - 1 3 ) M/S. SAHAYOG MICROFINANCE LTD. E - 7/88, LALA LAJPAT RAI SOCIETY ARERA COLONY 8/83 BHOPAL - 462016 MADHYA PRADESH VS. A CIT 8(1)(2) MUMBAI ( APPELLANT ) ( RESPONDENT ) PAN NO . AAHCS6051M ASSESSEE BY SHRI ALOK SAKSENA DEPARTMENT BY SHRI RAKESH RANJAN DATE OF HEARING 7.6 . 201 7 DATE OF PRONOUNCEMENT 7.6 . 201 7 O R D E R THE APPEAL FILED BY THE ASSESSEE IS DIR ECTED AGAINST THE ORDER PASSED BY THE LEARNED CIT(A), VALSAD AND IT RELATES TO A.Y. 2012 - 13. 2. THE ASSESSEE IS CONTESTING DISALLOWANCE OF PROVIDENT FUND PAYMENT S BY INVOKING PROVISIONS OF SECTION 43B OF THE ACT. 3. I HEARD THE PARTIES AND PERUSED THE R ECORD. THE ASSESSEE IS NON - BANKING FINANCE COMPANY. THE ASSESSING OFFICER NOTICED THAT THE EMPLOYEES CONTRIBUTION TO PROVIDENT FUND AMOUNTING TO ` 3,63,887/ - WAS PAID BY THE ASSESSEE AFTER THE DUE DATE PRESCRIBED UNDER THE PROVIDENT FUND ACT AND ACCORDINGL Y HE DI S ALLOWED THE SAME BY INVOKING PROVISIONS OF SECTION 43B OF THE ACT. THE LEARNED CIT(A) CONFIRMED THE SAME AND HENCE THE ASSESSEE HAS FILED THIS APPEAL BEFORE US. 4. LEARNED AR SUBMITTED THAT THE ASSESSING OFFICER HAS ERRONEOUSLY TAKEN THE AMOUNT OF EMPLOYEES CONTRIBUTION OF ` 3,63,887/ - . HE SUBMITTED THAT THE EMPLOYEES CONTRIBUTION WAS ` 1,88,193/ - AND REMAINING AMOUNT OF ` M/S. SAHAYOG MICROFINANCE LTD. 2 1,75,694/ - WAS EMPLOYERS CONTRIBUTION. HE SUBMITTED THAT THE ASSESSEE HAS PAID BOTH AMOUNT S BEFORE THE DUE DATE OF FILING THE R ETURN OF INCOME AND HENCE THEY ARE ALLOWABLE AS DEDUCTION AS PER THE DECISION RENDERED BY HON'BLE BOMBAY HIGH COURT IN THE CASE OF GHATGE PATIL TRANSPORTS LTD. (368 ITR 749). 5. I HEARD LEARNED DEPARTMENTAL REPRESENTATIVE AND PERUSED THE RECORD. I NOTIC ED THAT THE DETAILS OF PAYMENT OF PROVIDENT FUND AMOUNT OF ` 3,63,887/ - IS NOT AVAILABLE ON RECORD. FURTHER ASSESSEE CONTENDS THAT THE EMPLOYEES CONTRIBUTION WAS ACTUALLY ` 1,88,193/ - AND REMAINING AMOUNT REPRESENTS EMPLOYERS CONTRIBUTION. SINCE THE FACTS ARE NOT CLEAR ON THIS ISSUE, I AM OF THE VIEW THAT THIS ISSUE REQUIRES FRESH EXAMINATION AT THE END OF THE ASSESSING OFFICER IN THE LIGHT OF THE DECISION RENDERED BY HON'BLE BOMBAY HIGH COURT IN THE CASE OF GHATGE PATIL TRANSPORTS LTD. (SUPRA). ACCORDINGLY , I SET ASIDE THE ORDER PASSED BY THE LEARNED CIT(A) ON THIS ISSUE AND RESTORE THE SAME TO THE FILE OF THE ASSESSING OFFICER WITH THE DIRECTION TO EXAMINE THIS ISSUE AFRESH BY FOLLOWING THE DECISION RENDERED BY HON'BLE BOMBAY HIGH COURT IN THE CASE OF GHA TGE PATIL TRANSPORTS LTD.(SUPRA). AFTER PROVIDING ADEQUATE OPPORTUNITY OF BEING HEARD TO THE ASSESSEE, THE ASSESSING OFFICER MAY TAKE APPROPRIATE DECISION IN ACCORDANCE WITH LAW. 6. IN THE RESULT, APPEAL FILED BY THE ASSESSEE IS TREATED AS ALLOWED FOR ST ATISTICAL PURPOSES. ORDER HAS BE EN PRONOUNCED IN THE COURT ON 7.6 . 201 7. SD/ - (B.R.BASKARAN) ACCOUNTANT MEMBER MUMBAI ; DATED : 7 / 6 / 20 1 7 COPY OF THE ORDER FORWARDED TO : 1. THE APPELLANT 2. THE RESPONDENT 3. THE CIT(A) 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. M/S. SAHAYOG MICROFINANCE LTD. 3 BY ORDER, //TRUE COPY// ( DY./ASSTT. REGISTRAR) PS ITAT, MUMBAI