https://www.taxtmi.com/caselaws?id=412424 The Tribunal allowed the appeal, ruling in favor of the assessee, and held that the disallowance of the employee's contribution towards ESI and PF under Section 36(1)(va) of the Income Tax Act, 1961 for the assessment year 2019-20 should be deleted. Despite the Revenue's argument on the retrospective applicability of the amendment, the Tribunal emphasized the timely deposit of contributions before the due date of filing the return of income as a key factor in determining the disallowance, in line with judicial precedents and the specific wording of the Finance Act, 2021. en-us Wed, 15 Sep 2021 00:00:00 +0530 Thu, 28 Oct 2021 15:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=412424 The Tribunal allowed the appeal, ruling in favor of the assessee, and held that the disallowance of the employee's contribution towards ESI and PF under Section 36(1)(va) of the Income Tax Act, 1961 for the assessment year 2019-20 should be deleted. Despite the Revenue's argument on the retrospective applicability of the amendment, the Tribunal emphasized the timely deposit of contributions before the due date of filing the return of income as a key factor in determining the disallowance, in line with judicial precedents and the specific wording of the Finance Act, 2021. Case-Laws Income Tax Wed, 15 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=412424