investment in the following manner :-
Sl. Description of items WDV + Addition Sum Insured Difference
No.
1 Machinery ... Insurance Policy found difference of
Rs.52,37,840/- between the sum insured and WDV of the machineries and addition
thereof during the year under
that there was undisclosed investment to the extent of difference between sum
insured in respect of plant and machinery and WDV as per tax audit ... assessee. He has proceeded solely on the basis of
sum insured in respect of plant and machinery. In the ground of appeal the department, inter
instant case are different. There is no evidence whatsoever that the sum
insured as value of stock was ever submitted by the appellant ... appellant's case is that the
sum of Rs.30 lacs was the sum insured of the stock-in-trade at his showroom
that there was undisclosed investment to the extent of difference between sum
insured in respect of plant and machinery and WDV as per tax audit ... assessee. He has proceeded solely on the basis of
sum insured in respect of plant and machinery. In the ground of appeal the department, inter
disallowance of the employee's contribution
to PF and ESI in the aggregate sum of Rs. 1,42,43,864/-
under section ... ESI beyond
the due date as prescribed under the P.F. & ESI Act, the
alle ged sum is liable to be disallowed under section
sustaining the disallowance of ₹5,69,248/- paid
to LIC on account of contribution in respect of gratuity fund ... assessee, during the year, has contributed a sum of ₹5,69,248/-
towards gratuity fund maintained with LIC. However, the AO during the course
follows:
"The assesse collected ESI & PF from its employees but did not pay the sum
to the respective funds within the due date ... Shree Ltd (supra)
has held that any sum deposited in the government account for PF and ESI before the due
date of the filing
action of AO disallowing the sum of
Rs. 10,946/- being contribution of employees' share towards ESI, PF, Superannuation Fund
or any other fund ... ESI can be allowed only if the same
has been deposited within the due date prescribed under the respective Act (PF and ESI
action of AO disallowing the sum of Rs.
10,946/- being contribution of employees' share towards ESI, PF, Superannuation Fund or any other
fund ... ESI can be allowed only if the same has been deposited within the due date prescribed under the
respective Act (PF and ESI
action of AO disallowing the sum of Rs.
10,946/- being contribution of employees' share towards ESI, PF, Superannuation Fund or any
other fund ... ESI can be allowed only if the same has been deposited within the due date prescribed under the
respective Act (PF and ESI
