https://www.taxtmi.com/caselaws?id=416310 The Tribunal ruled in favor of the assessee, holding that employees' contribution to PF and ESI, if paid before the due date of filing the return of income, is deductible under section 43B of the Income Tax Act. The Tribunal also determined that the amendments introduced by the Finance Act, 2021 were prospective and not retrospective, applying from the assessment year 2021-2022 onwards. Consequently, the Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction for the employees' contributions to ESI paid before the filing deadline. en-us Thu, 23 Dec 2021 00:00:00 +0530 Sat, 25 Dec 2021 08:43:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416310 The Tribunal ruled in favor of the assessee, holding that employees' contribution to PF and ESI, if paid before the due date of filing the return of income, is deductible under section 43B of the Income Tax Act. The Tribunal also determined that the amendments introduced by the Finance Act, 2021 were prospective and not retrospective, applying from the assessment year 2021-2022 onwards. Consequently, the Tribunal allowed the appeal, directing the Assessing Officer to grant the deduction for the employees' contributions to ESI paid before the filing deadline. Case-Laws Income Tax Thu, 23 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416310