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This appeal by the assessee is arising out of the order of Ld. CIT(A)-17, Kolkata in appeal No. 348/Ld. CIT(A)-17/Kol/17-18 dated I.T.A. No.1228 /Kol/2019 AY: 2012-13 Shristi Infrastructure Development Corporation ltd.

29.11.2018 against the assessment order passed by the DCIT, Circle- 2(2), Kolkata u/s 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the Act) dated 11.03.2015 for AY 2012-13.

I.T.A. No.1228 /Kol/2019 AY: 2012-13 Shristi Infrastructure Development Corporation ltd.

4. Aggrieved, the assessee went in appeal before the Ld. CIT(A) who confirmed the addition /disallowance made by the Ld. AO.

5. Before us, Shri Sunil Surana, CA represented the assessee and Ms. Ranu Biswas, Addl. CIT represented the department.

was dealt with in the explanation as the date by which such amounts had to be credited by the employer, in the concerned enactments such as EPF/ESI Acts. Importantly, such a condition (i.e., depositing the amount on or before the due date) has not been I.T.A. No.1228 /Kol/2019 AY: 2012-13 Shristi Infrastructure Development Corporation ltd.

e) When Parliament introduced Section 43B, what was on the statute book, was only employer's contribution (Section 36(1)(iv)). At that point in time, there was no question of employee's contribution being considered as part of the employer's earning. On the application of the original principles of law it could have been treated only as receipts not amounting to income. When Parliament introduced the amendments in 1988-89, inserting Section 36(1)(va) and simultaneously inserting the second proviso of Section 43B, its intention was not to treat the disparate nature of the amounts, similarly. As discussed previously, the memorandum introducing the Finance Bill clearly stated that the provisions - especially I.T.A. No.1228 /Kol/2019 AY: 2012-13 Shristi Infrastructure Development Corporation ltd.