https://www.taxtmi.com/caselaws?id=117602 The Tribunal ruled in favor of the assessee, holding that payments towards employer's provident fund contributions and other welfare funds are allowable deductions if made before filing the return of income, as per the amendment to section 43B by the Finance Act, 2003. The retrospective nature of the amendment aimed to alleviate hardships caused by total disallowance of delayed payments, aligning with judicial precedents and legislative intent to promote deductions for timely contributions. The assessee was granted deductions for payments made within the specified timeline, emphasizing compliance with the amended provisions. en-us Tue, 22 Mar 2005 00:00:00 +0530 Mon, 25 Jun 2012 12:37:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117602 The Tribunal ruled in favor of the assessee, holding that payments towards employer's provident fund contributions and other welfare funds are allowable deductions if made before filing the return of income, as per the amendment to section 43B by the Finance Act, 2003. The retrospective nature of the amendment aimed to alleviate hardships caused by total disallowance of delayed payments, aligning with judicial precedents and legislative intent to promote deductions for timely contributions. The assessee was granted deductions for payments made within the specified timeline, emphasizing compliance with the amended provisions. Case-Laws Income Tax Tue, 22 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117602