https://www.taxtmi.com/caselaws?id=413568 The Tribunal held that the disallowance of Rs. 3,26,330/- for delayed payment of employees' contribution to PF & ESI was not justified as the contributions were paid before the due date for filing the return. The Tribunal referred to precedents emphasizing that expenditure should be allowed when payments are made and not treated as deemed income for belated payments. Additionally, the Tribunal clarified that the amendments introduced by the Finance Act, 2021, regarding Sections 36 and 43B did not apply to the assessment year under consideration. Consequently, the Tribunal allowed the appeal, directing the deletion of the disallowance. en-us Wed, 13 Oct 2021 00:00:00 +0530 Thu, 14 Oct 2021 09:15:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413568 The Tribunal held that the disallowance of Rs. 3,26,330/- for delayed payment of employees' contribution to PF & ESI was not justified as the contributions were paid before the due date for filing the return. The Tribunal referred to precedents emphasizing that expenditure should be allowed when payments are made and not treated as deemed income for belated payments. Additionally, the Tribunal clarified that the amendments introduced by the Finance Act, 2021, regarding Sections 36 and 43B did not apply to the assessment year under consideration. Consequently, the Tribunal allowed the appeal, directing the deletion of the disallowance. Case-Laws Income Tax Wed, 13 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413568