https://www.taxtmi.com/caselaws?id=416265 The Tribunal allowed the appeal of the assessee, deleting the disallowance of Rs. 2,59,090/- for delayed payment of employees' contribution to Provident Fund (PF) and Employees' State Insurance (ESI). The Tribunal held that the amendment by the Finance Act, 2021, clarifying the applicability of Section 43B, was prospective. Therefore, payments made before the due date of filing the return under section 139(1) should be allowed as deductions. The Tribunal followed the principle favoring the assessee in conflicting decisions and directed the Assessing Officer to allow the deduction for the employees' contributions to PF and ESI. en-us Mon, 13 Dec 2021 00:00:00 +0530 Fri, 24 Dec 2021 08:47:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416265 The Tribunal allowed the appeal of the assessee, deleting the disallowance of Rs. 2,59,090/- for delayed payment of employees' contribution to Provident Fund (PF) and Employees' State Insurance (ESI). The Tribunal held that the amendment by the Finance Act, 2021, clarifying the applicability of Section 43B, was prospective. Therefore, payments made before the due date of filing the return under section 139(1) should be allowed as deductions. The Tribunal followed the principle favoring the assessee in conflicting decisions and directed the Assessing Officer to allow the deduction for the employees' contributions to PF and ESI. Case-Laws Income Tax Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416265