https://www.taxtmi.com/caselaws?id=204714 The appeal under section 260A of the Income Tax Act, 1961 was dismissed by the Supreme Court, upholding the decision of the Appellate Tribunal. The substantial question of law revolved around the deletion of the disallowance under section 43B for late payment of the employer's contribution to the provident fund. The Court, following the precedent set in Commissioner of Income Tax Vs. Alom Extrusions Ltd., held that the retrospective effect of the amendment to section 43B clarified by the Finance Act, 2003 applied from April 1, 1988, not prospectively from April 1, 2004. The appeal was thus dismissed in favor of the assessee. en-us Thu, 16 Jun 2011 00:00:00 +0530 Mon, 11 Jul 2011 18:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204714 The appeal under section 260A of the Income Tax Act, 1961 was dismissed by the Supreme Court, upholding the decision of the Appellate Tribunal. The substantial question of law revolved around the deletion of the disallowance under section 43B for late payment of the employer's contribution to the provident fund. The Court, following the precedent set in Commissioner of Income Tax Vs. Alom Extrusions Ltd., held that the retrospective effect of the amendment to section 43B clarified by the Finance Act, 2003 applied from April 1, 1988, not prospectively from April 1, 2004. The appeal was thus dismissed in favor of the assessee. Case-Laws Income Tax Thu, 16 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204714