https://www.taxtmi.com/caselaws?id=417558 The Tribunal ruled in favor of the assessee, allowing deductions for employees' contributions to Provident Fund and Employees' State Insurance made before the due date of filing the return. The recent amendment to section 36(1)(va) and 43B of the Income Tax Act, 1961, introduced by the Finance Act, 2021, was deemed prospective and not clarificatory. The Tribunal emphasized that deductions are permissible if contributions are made before the filing deadline, citing relevant case law. Consequently, the disallowances by the Assessing Officer were overturned, and the appeals were allowed. en-us Wed, 17 Nov 2021 00:00:00 +0530 Thu, 27 Jan 2022 08:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417558 The Tribunal ruled in favor of the assessee, allowing deductions for employees' contributions to Provident Fund and Employees' State Insurance made before the due date of filing the return. The recent amendment to section 36(1)(va) and 43B of the Income Tax Act, 1961, introduced by the Finance Act, 2021, was deemed prospective and not clarificatory. The Tribunal emphasized that deductions are permissible if contributions are made before the filing deadline, citing relevant case law. Consequently, the disallowances by the Assessing Officer were overturned, and the appeals were allowed. Case-Laws Income Tax Wed, 17 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417558