https://www.taxtmi.com/caselaws?id=416563 The ITAT ruled in favor of the assessee, holding that the amendment to sections 36(1)(va) and 43B of the Income Tax Act by the Finance Act, 2021, was prospective and not retrospective. The ITAT set aside the addition made to the income of the assessee by disallowing delayed payments of employees' contribution to ESI and PF for A.Y. 2019-20. The ITAT directed the AO to allow the assessee's claim, as the amendment could not be the basis for disallowing the claim in the impugned year. The appeal was allowed, and the order was pronounced on 24.11.2021. en-us Wed, 24 Nov 2021 00:00:00 +0530 Sat, 01 Jan 2022 08:55:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416563 The ITAT ruled in favor of the assessee, holding that the amendment to sections 36(1)(va) and 43B of the Income Tax Act by the Finance Act, 2021, was prospective and not retrospective. The ITAT set aside the addition made to the income of the assessee by disallowing delayed payments of employees' contribution to ESI and PF for A.Y. 2019-20. The ITAT directed the AO to allow the assessee's claim, as the amendment could not be the basis for disallowing the claim in the impugned year. The appeal was allowed, and the order was pronounced on 24.11.2021. Case-Laws Income Tax Wed, 24 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416563