https://www.taxtmi.com/caselaws?id=416305 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowed expenditure of Rs. 2,79,560 for late payments towards EPF and ESI. The Tribunal held that deductions for delayed payments made before filing returns are permissible, contrary to the decision of the Ld. CIT(A). The Tribunal emphasized that the Finance Act 2021 amendment is not retrospective and should not impact prior cases. The decision aligned with previous rulings of various ITAT Benches and the Jurisdictional High Court, leading to the deletion of the disallowed additions. en-us Mon, 13 Dec 2021 00:00:00 +0530 Sat, 25 Dec 2021 08:43:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416305 The Tribunal allowed the appeal, ruling in favor of the assessee by deleting the disallowed expenditure of Rs. 2,79,560 for late payments towards EPF and ESI. The Tribunal held that deductions for delayed payments made before filing returns are permissible, contrary to the decision of the Ld. CIT(A). The Tribunal emphasized that the Finance Act 2021 amendment is not retrospective and should not impact prior cases. The decision aligned with previous rulings of various ITAT Benches and the Jurisdictional High Court, leading to the deletion of the disallowed additions. Case-Laws Income Tax Mon, 13 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416305