Meaning of “Contribution”

Case Name :  Essae teraoka (p.) Ltd. Vs. Dy. CIT

Citation : [2014] 43 taxmann.Com 33/222 taxman 170 (mag.)/266 Ctr 246/366 itr 408 (kar.)

Court :   Karnataka high court

Section : 43b

Meaning : The word ‘contribution’ used in clause (b) of section 43b means the contribution of the employer and the employee. That being so, if the contribution is made on or before the due date for furnishing the return of income under sub-section (1) of section 139 is made, the employer is entitled for deduction.

Case Name : S.N.Bhargava vs. Ito 

Citation : [1987] 20 itd 561 (delhi – trib.)

Court : Itat-delhi

Section : 80c

Meaning : Contribution’ means any sum credited by or on behalf of any employee out of his salary, or by an employer out of his own moneys, to the individual account of an employee, but does not include any sum credited as interest.

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