https://www.taxtmi.com/caselaws?id=11280 The High Court of Madras ruled in favor of the assessee, rejecting the Revenue's disallowance of provident fund contributions and administrative charges under section 43B(b) of the Act. The court held that the retrospective operation of the first proviso to section 43B applied, emphasizing that deductions should only be claimed for amounts actually paid within the specified time. The court clarified that the amendment to section 43B was remedial and intended to ensure statutory liabilities are deducted only upon actual payment within the stipulated timeframe, treating all statutory liabilities equally. en-us Wed, 19 Nov 2003 00:00:00 +0530 Tue, 04 Aug 2009 13:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11280 The High Court of Madras ruled in favor of the assessee, rejecting the Revenue's disallowance of provident fund contributions and administrative charges under section 43B(b) of the Act. The court held that the retrospective operation of the first proviso to section 43B applied, emphasizing that deductions should only be claimed for amounts actually paid within the specified time. The court clarified that the amendment to section 43B was remedial and intended to ensure statutory liabilities are deducted only upon actual payment within the stipulated timeframe, treating all statutory liabilities equally. Case-Laws Income Tax Wed, 19 Nov 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11280