Ginza Industries Ltd. vs. DCIT, Circle-5(1), Kolkata

Parties Involved

Facts Summary

Ginza Industries Ltd. filed a return of income on 17.10.2018 which was processed under section 143(1) of the Act. The order dated 12.11.2019 included two additions: one for Provident Fund & Employee State Insurance of Rs. 91,24,951/- and another for penalty or fine of Rs. 37,963/-. The assessee appealed against this order to the Commissioner of Income Tax (Appeals) who dismissed the appeal. However, a rectification order by JCIT(A)-2, Lucknow allowed EPF to the tune of Rs. 27,24,986/- paid on 15.09.2017. The appellant argued that a payment due on 15.08.2017 was paid on 16.08.2017 due to it being a public holiday.…

Legal Issues

• 1. Confirmation of addition of Rs. 90,24,952/- by the Ld. CIT(A) as made by the AO, CPC, Bangalore on account of PF & ESI.
• 2. Confirmation of penalty of Rs. 37,963/- by the Ld. CIT(A) as made by the AO on account of penalty or fine.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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