question involved is with respect to the interpretation of
Section 36(1)(va) and Section 43B of the Income Tax Act, 1961 (hereinafter ... Finance Act
1987, Section 2(24) (x) , and Section 36(1) (va) as well as second proviso to
Section 43B were inserted. From that date
whether disallowable or not with reference
to Section 36(1)(va) read with Section 43B , a similar question
came up for consideration before Gujarat High ... date the Assessee is straightaway entitled
for deduction under Section 36(1)(va) . However Section 43B
provides for certain deductions allowable only on actual
payment
such that Sections 28 to 38 deal with different kinds of deductions,
whereas Sections 40 to 43B spell out special provisions, laying out the mechanism ... amendments in 1988-89, inserting Section 36(1)(va) and simultaneously inserting
the second proviso of Section 43B, its intention was not to treat
eferred to in clause (va) of sub-
section (1) of section 36 of the Act.
Though section 43B of the Act covers ... disallowing the delayed payment, provi sions of Sec tion
2(24)(x), Section 36 ( 1)(va), Section 43B , S ecti
income under sub-section (1) of section 139 , assessee
would be entitled to deduction under section 43B and such deduction
would be admissible ... referred to in clause (va) of sub-section (1)
of section 36 of the Act.
Though section 43B of the Act covers only employer
before filing of the return of income under Section 139(1) ,
cannot be disallowed under Section 43B or under Section ... u/s 139(1) of the Act. Further, the ld D/R has referred to the explanation
to section 36(1)(va) and section 43B
statute governing PF/ESI , keeping in view mandate of Section 36(1)(va) , and
Section 43B has no applicability. Thus, in nut-shell , appeal filed ... Explanation
below clause (va) of subsection (1) of section 36 .]
** ** **
Thus, Section 43B of the 1961 Act as it stood vide amendment made by
Finance
Explanation 2 to clause (va) of sub-section (1) of the
said section, the provisions of section 43B shall not apply and shall
be deemed ... payment were not
allowable u/s 36(1)(va) .It was held as under:
"Section 43B, read with section
income under sub-section (1) of section 139 ,
assessee would be entitled to deduction under section 43B and such deduction
would be admissible ... clause (va) of sub-section (1) of section 36 of
the Act.
9
ITA No. 34/Chny/2022
Though section 43B of the Act covers
income under sub-section (1) of section 139 , assessee
would be entitled to deduction under section 43B and such deduction
would be admissible ... referred to in clause (va) of sub-section (1)
of section 36 of the Act.
Though section 43B of the Act covers only employer
