Section 28, 36, 43B, 56, 115JB of Income Tax Act, 1961—In the instant case, following grounds raised by assessee—

The AO has erred in not admitting our claim and not allowing the deduction for Employee Contribution to PF of Rs. 24,02,980/- and ESIC of Rs. 13,01,980/- which were delayed but paid before due date of filling of Income Tax Return

The AO further erred in considering the interest income of Rs. 3,73,78,956/- as Income from Other Sources as against the Income from business as claimed by the appellant.

Held that— we admit the assessee’s claim and restore the issue back to the file of Ld. AO to examine the same. The Ld. AO is directed to allow the same after verifying that the aforesaid contributions / payments were deposited before due date of filing of return of income and secondly, the deduction of the same was not claimed by the assessee in any other Assessment Year.

We deem it fit to restore the matter back to the file of Ld.AO for re-adjudication in the light of submissions. The assessee is directed to substantiate the same and demonstrate the business nexus of these deposits and justify assessability of the same as business income. The ground stands partly allowed for statistical purposes.[M/S. FIRST FLIGHT COURIERS LTD. VERSUS DCIT-12 (2) (1) , MUMBAI AND (VICE-VERSA)][2019] 14 ITCD Online (5) [ ITAT MUMBAI]