JCIT (OSD) 4(3), MUMBAI V. L.K.P. SECURITIES LTD, MUMBAI

ITA 62/MUM/2013

• Counselvise Citation: 6219914 RSA 2013
• Duration Of Justice: 2 year(s) 8 month(s) 20 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 23-09-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Next Hearing Date: 26-03-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 03-01-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: VIKRAM BATRA
• Section: 143(3); 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH A, MUMBAI BEORE SHRI G.S.PANNU, ACCOUNTANT MEMBER AND SHRI RAMLAL NEGI, JUDICIAL MEMBER ITA NO. 62/MUM/2013 (ASSESSMENT YEAR : 2009-10) THE ACIT 4(3), 6 TH FLOOR, R.NO.649, AAYKAR BHAVAN, MK ROAD, MUMBAI 400020 ... APPELLANT VS. M/S. LKP SECURITIES LTD., 203, EMBASSY CENTER, NARIMAN POINT, MUMBAI 400 023 PAN NO.AAACL 0963A .... RESPONDENT APPELLANT BY : SHRI VIKRAM BATRA REVENUE BY : MS. ARATI VISSANJI DATE OF HEARING : 23/09/2015 DATE OF PRONOUNCEMENT : 23/09/2015 ORDER PER G.S. PANNU,AM: THE CAPTIONED APPEAL FILED BY THE REVENUE IS DIREC TED AGAINST THE ORDER OF THE CIT(A)-8, MUMBAI DATED 22/10/2012 PERT AINING TO THE ASSESSMENT YEAR 2009-10, WHICH IN TURN HAS ARISEN F ROM AN ORDER PASSED BY THE ASSESSING OFFICER DATED 12/12/20 11 UNDER SECTION 143(3) OF THE INCOME TAX ACT, 1961 (IN SHORT THE A CT). 2 ITA NO. 62/MUM/2013 (ASSESSMENT YEAR : 2009-10) 2. IN THIS APPEAL, THE SOLITARY ISSUE RAISED BY THE REVENUE IS AGAINST THE DECISION OF THE CIT(A) IN DELETING THE DISALLO WANCE OF RS.17,21,953/- WHICH WAS MADE BY THE ASSESSING OFFICER ON ACCOUNT OF BELATED DEPOSIT OF EMPLOYEES CONTRIBUTION OF THE PROVIDENT FUND. 3. THE ASSESSING OFFICER NOTED THAT PAYMENT TO TH E TUNE OF RS.17,21,953/- ON ACCOUNT OF EMPLOYEES CONTRIBUTIO N TO THE PROVIDENT FUND WAS MADE AFTER THE DUE DATE SPECIFIED IN THE P ROVIDENT FUND ACT, AND ACCORDINGLY, THE AFORESAID AMOUNT WAS DISALLOWE D. THE CIT(A) HAS DELETED THE DISALLOWANCE BY NOTICING THAT IN THE IM MEDIATE PRECEDING ASSESSMENT YEAR OF 2008-09, HIS PREDECESSOR HAD ACC EPTED THE STAND OF THE ASSESSEE. 4. BEFORE US, IT WAS THE COMMON POINT BETWEEN THE P ARTIES THAT THE ORDER OF THE CIT(A) FOR ASSESSMENT YEAR 2008-09 HAS BEEN AFFIRMED BY THE TRIBUNAL VIDE ITA NO.638/MUM/2012 DATED 17/5/20 13 AND, THEREFORE, THE IMPUGNED ORDER OF THE CIT(A) DESERVE S TO BE AFFIRMED. MOREOVER, THE FOLLOWING JUDGMENTS OF THE HONBLE BO MBAY HIGH COURT IN THE CASE OF CIT VS. HINDUSTAN ORGANIC CHEMICALS LTD., 366 ITR 1(BOM) AND IN THE CASE OF CIT VS. GHATGE PATIL TRANSPORT S LTD. 368 ITR749 (BOM) HAVE LAID DOWN THAT THE BELATED PAYMENT OF E MPLOYEES CONTRIBUTION TO PROVIDENT FUND IS NOT SUBJECT TO D ISALLOWANCE, IF THE SAME IS DEPOSITED BEFORE THE DUE DATE OF FILING OF THE RETURN PRESCRIBED IN SECTION 139(1) OF THE ACT. IN THE PRESENT CASE, THE CIT(A) HAS FOLLOWED A PRECEDENT , WHICH HAS BEEN APPROVED BY THE TRIBU NAL VIDE ORDER DATED 17/5/2013(SUPRA), AND THUS THE ORDER OF THE CIT(A) IS AFFIRMED AND REVENUE FAILS IN ITS APPEAL. 3 ITA NO. 62/MUM/2013 (ASSESSMENT YEAR : 2009-10) 5. IN THE RESULT, THE APPEAL OF THE REVENUE IS DISM ISSED. THE ABOVE DECISION WAS PRONOUNCED IN THE OPEN COUR T IN THE PRESENCE OF BOTH THE PARTIES AT THE CONCLUSION OF H EARING ON 23/09/2015. SD/- SD/- (RAMLAL NEGI) (G.S. PANNU) JUDICIAL MEMBER ACCOUNTANT ME MBER MUMBAI, DATED 23/09/2015 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. BY ORDER, //TRUE COPY// (DY./ASSTT. REGISTRAR) ITAT, MUMBAI VM , SR. PS