https://www.taxtmi.com/caselaws?id=418334 The ITAT allowed the appeals of the assessees, deleting the disallowances sustained by the CIT(A) regarding delayed deposits of employees' contributions to PF and ESI, prior to the amendment by the Finance Act, 2021. The ITAT held that the amendment did not have retrospective effect and should not apply to the assessment years in question. The ITAT also found the prima facie adjustments by the CPC to be erroneous, citing favorable judicial precedents. The order in favor of the assessees was pronounced on 18/01/2022. en-us Tue, 18 Jan 2022 00:00:00 +0530 Tue, 15 Feb 2022 06:56:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418334 The ITAT allowed the appeals of the assessees, deleting the disallowances sustained by the CIT(A) regarding delayed deposits of employees' contributions to PF and ESI, prior to the amendment by the Finance Act, 2021. The ITAT held that the amendment did not have retrospective effect and should not apply to the assessment years in question. The ITAT also found the prima facie adjustments by the CPC to be erroneous, citing favorable judicial precedents. The order in favor of the assessees was pronounced on 18/01/2022. Case-Laws Income Tax Tue, 18 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418334