LAWS(ALL)-2005-4-242

COMMISSIONER OF INCOME TAX Vs. UPTRON POWERTRONICS LTD

Decided On April 19, 2005
COMMISSIONER OF INCOME TAX Appellant
V/S
Uptron Powertronics Ltd Respondents

JUDGEMENT

(1.) THE Tribunal, Delhi, has referred the following question of law under Section 256(1) of the IT Act, 1961, hereinafter referred to as 'the Act', for opinion to this Court: Whether, on the facts and in the circumstances of the case, the Tribunal was correct in confirming the order of the CIT (A) by deleting the addition of Rs. 645047 made under Section 43B of the IT Act, 1961?

(2.) THE present reference relates to the asst. yr. 1985 -86. Briefly stated, the facts giving rise to the present reference are as follows: The respondent -assessee has been assessed to income -tax in the status of a company. Its accounting period ended on 31st Dec, 1984. It is engaged in manufacture of power plant, float rectifiers, battery chargers, switching cubicles, microwave power plants, mobile rectifiers, inverters float charges, air compressors, etc. It filed its return on 28th June, 1985, declaring income of Rs 1060259. Thereafter a revised return declaring income at Rs. 974933 was filed on account of claim of expenses relating to the financial year ending on 31st Dec, 1984 which has been debited to the accounts of subsequent assessment years. The AO completed the assessment under Section 143(3) of the Act and computed the assessee's total income at Rs. 1649120. While doing so, the AO made an addition of Rs. 645037 by disallowance under Section 43B of the Act. The aforesaid amount of Rs. 645037 comprises the following items:As per tax audit report 14,151ESIC 6,790PF payable 16,702Central sales -tax payable 4,64,802EFPF payable 2,566Local sales -tax payable 43,125Surcharge payable on local sales -tax 1545,48,290

(3.) WE have heard Sri Shambhu Chopra, learned standing counsel for the Revenue. Nobody has appeared on behalf of the respondent -assessee.