https://www.taxtmi.com/caselaws?id=300484 The Tribunal allowed the appeal, holding that the addition of Rs. 8,68,410 under section 36(1)(va) of the Income Tax Act was not sustainable as the amount had been deposited by the due date required by Section 139(1) of the Act. The Tribunal referenced various ITAT Benches' orders to establish that the amendments by the Finance Act, 2021 were not retrospective and applied from the assessment year 2021-22 onwards. Consequently, the Tribunal directed the deletion of the addition, ruling in favor of the assessee in a hearing conducted via Webex on 16th November 2021. en-us Tue, 16 Nov 2021 00:00:00 +0530 Fri, 04 Feb 2022 20:37:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300484 The Tribunal allowed the appeal, holding that the addition of Rs. 8,68,410 under section 36(1)(va) of the Income Tax Act was not sustainable as the amount had been deposited by the due date required by Section 139(1) of the Act. The Tribunal referenced various ITAT Benches' orders to establish that the amendments by the Finance Act, 2021 were not retrospective and applied from the assessment year 2021-22 onwards. Consequently, the Tribunal directed the deletion of the addition, ruling in favor of the assessee in a hearing conducted via Webex on 16th November 2021. Case-Laws Income Tax Tue, 16 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300484