https://www.taxtmi.com/caselaws?id=220352 The Supreme Court allowed deductions for employer's contributions to Provident Fund and ESI made before filing income tax returns, citing the non-obstante clause in Section 43B of the Income Tax Act, 1961. Relying on the Alom Extrusions Ltd case, the Court emphasized the retrospective application of the 2003 amendment to ensure uniformity in deductions. The decision favored the assessee, overturning the Tribunal's ruling and providing clarity on the retrospective nature of statutory provisions, promoting fairness for taxpayers facing similar issues. en-us Mon, 13 Aug 2012 00:00:00 +0530 Mon, 21 Jan 2013 07:43:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=220352 The Supreme Court allowed deductions for employer's contributions to Provident Fund and ESI made before filing income tax returns, citing the non-obstante clause in Section 43B of the Income Tax Act, 1961. Relying on the Alom Extrusions Ltd case, the Court emphasized the retrospective application of the 2003 amendment to ensure uniformity in deductions. The decision favored the assessee, overturning the Tribunal's ruling and providing clarity on the retrospective nature of statutory provisions, promoting fairness for taxpayers facing similar issues. Case-Laws Income Tax Mon, 13 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=220352