https://www.taxtmi.com/caselaws?id=419799 The Tribunal ruled in favor of the assessee, allowing the deduction of employees' contribution towards Provident Fund and Employee State Insurance under section 36(1)(va) of the Act. The Tribunal held that the employees' contributions made before the due date of filing the return of income under section 139(1) should be allowed as a deduction under section 43B, contrary to the CIT(A)'s decision. Additionally, the Tribunal determined that the amendment to section 36(1)(va) and section 43B by the Finance Act, 2021 was not clarificatory and had prospective application from 01.04.2021 onwards, thus not applicable to the relevant assessment year. en-us Tue, 08 Mar 2022 00:00:00 +0530 Mon, 21 Mar 2022 08:15:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419799 The Tribunal ruled in favor of the assessee, allowing the deduction of employees' contribution towards Provident Fund and Employee State Insurance under section 36(1)(va) of the Act. The Tribunal held that the employees' contributions made before the due date of filing the return of income under section 139(1) should be allowed as a deduction under section 43B, contrary to the CIT(A)'s decision. Additionally, the Tribunal determined that the amendment to section 36(1)(va) and section 43B by the Finance Act, 2021 was not clarificatory and had prospective application from 01.04.2021 onwards, thus not applicable to the relevant assessment year. Case-Laws Income Tax Tue, 08 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419799