https://www.taxtmi.com/caselaws?id=65325 The Tribunal upheld the CIT(A)'s decision regarding the allowability of provident fund contributions within the grace period under section 43B of the IT Act, emphasizing that payments made within the grace period should be considered timely. On the issue of re-computing interest under section 234B following a retrospective amendment by the Finance Act, 2001, the Tribunal held that interest should be levied on the assessed tax, not the returned income, in line with the Supreme Court decision in CIT vs. Ranchi Club Ltd. The appeal was partly allowed based on these findings. en-us Tue, 12 Jul 2005 00:00:00 +0530 Tue, 15 Feb 2011 10:13:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65325 The Tribunal upheld the CIT(A)'s decision regarding the allowability of provident fund contributions within the grace period under section 43B of the IT Act, emphasizing that payments made within the grace period should be considered timely. On the issue of re-computing interest under section 234B following a retrospective amendment by the Finance Act, 2001, the Tribunal held that interest should be levied on the assessed tax, not the returned income, in line with the Supreme Court decision in CIT vs. Ranchi Club Ltd. The appeal was partly allowed based on these findings. Case-Laws Income Tax Tue, 12 Jul 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65325