https://www.taxtmi.com/caselaws?id=419485 The Tribunal ruled in favor of the appellant, directing the deletion of the disallowance of late deposits of ESI and EPF under section 36(va). The decision aligned with the High Court's interpretation, emphasizing that expenditure should be allowed only upon actual payment, not penalizing for delayed deposits. The Tribunal clarified the applicability of section 36(va) over section 43B for late deposits, emphasizing legislative intent in tax implications. Despite the appellant's absence during the hearing, the Tribunal proceeded based on available records, highlighting the importance of proper representation in legal proceedings. en-us Fri, 25 Feb 2022 00:00:00 +0530 Sat, 12 Mar 2022 08:06:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419485 The Tribunal ruled in favor of the appellant, directing the deletion of the disallowance of late deposits of ESI and EPF under section 36(va). The decision aligned with the High Court's interpretation, emphasizing that expenditure should be allowed only upon actual payment, not penalizing for delayed deposits. The Tribunal clarified the applicability of section 36(va) over section 43B for late deposits, emphasizing legislative intent in tax implications. Despite the appellant's absence during the hearing, the Tribunal proceeded based on available records, highlighting the importance of proper representation in legal proceedings. Case-Laws Income Tax Fri, 25 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419485