Supreme Court of India
Checkmate Services P. Ltd. v. Commissioner of Income Tax-1
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What the Court ordered
We hold that Finance Act, 2003 will operate retrospectively with effect from 1st April, 1988 [when the first proviso stood inserted]. Lastly, we may point out the hardship and the invidious discrimination which would be caused to the assessee(s) if the contention of the Department is to be accepted that Finance Act, 2003, 2003, to the above extent, operated prospectively.
Judgment, page 33
From the headnote
Income Tax Act, 1961 – s.36(1)(va) and s.43B – Allowable deductions – Assessee-appellants had belatedly deposited their employees’ contribution towards the EPF and ESI, considering the due dates under the relevant acts and regulations – Whether by virtue of s.36(1)(va) r/w s.2(24)(x), such sums received by appellants constituted “income” and could not be allowed as deductions u/ s.36(1)(va) when the payment was made beyond the relevant due date under the respective acts – Held: The essential character of an employees’ contribution, i.e., that it is part of the employees’ income, held in trust…
Authorities it was built on
- 2018 Commissioner of Customs (import), Mumbai v. M/s. Dilip Kumar and Company & Ors.
- 2004 State of Jharkhand and Ors. v. Ambay Cements and Anr.
- 1997 Allied Motors (p) Ltd. v. Commissioner of Income Tax, Delhi
- 2010 Ajmera Housing Corporation & Anr. Etc. Etc. v. Commissioner of Income Tax
- 2014 Commissioner of Income Tax - Ill v. M/s.calcutta Knitwears, Ludhiana
- 2009 Commissioner of Income Tax v. M/s. Alom Extrusions Limited
- 1977 R. K. Malhotra, I.T.O. Group Circle Ii(l), Ahmedabad v. Kastur Bhai Lalbhai (h.u.f.)
- 2017 Deputy Commissioner of Income-tax, Circle 11 (i) Bangalore v. M/s. Ace Multi Axes Systems Ltd.
- 2004 Eagle Flask Industries Ltd. v. The Commissioner of Central Excise, Pune
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