https://www.taxtmi.com/caselaws?id=418894 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowance of delayed deposit of employees' contribution to PF & ESI under section 143(1). The Tribunal clarified that delayed deposit of employee contributions cannot be considered an eligible deduction under Section 36(1)(va) due to the retrospective nature of the amendment brought by the Finance Act, 2021. Emphasizing the importance of jurisdictional High Court decisions and legislative intent, the Tribunal aligned its decision with binding precedents, ultimately leading to the deletion of the disallowance amount. en-us Fri, 25 Feb 2022 00:00:00 +0530 Sat, 26 Feb 2022 06:00:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418894 The Tribunal ruled in favor of the appellant, directing the Assessing Officer to delete the disallowance of delayed deposit of employees' contribution to PF & ESI under section 143(1). The Tribunal clarified that delayed deposit of employee contributions cannot be considered an eligible deduction under Section 36(1)(va) due to the retrospective nature of the amendment brought by the Finance Act, 2021. Emphasizing the importance of jurisdictional High Court decisions and legislative intent, the Tribunal aligned its decision with binding precedents, ultimately leading to the deletion of the disallowance amount. Case-Laws Income Tax Fri, 25 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418894