https://www.taxtmi.com/caselaws?id=419845 The ITAT Delhi ruled in favor of the assessee, deleting the disallowances of employees' PF and ESIC contributions deposited after the due date but before the due date for filing the Income Tax Return. The ITAT held that the legislative intent was to allow deductions when payments were actually made, not to treat belated payments as deemed income of the employer. Additionally, the ITAT determined that the amendment in section 36(1)(va) of the Income Tax Act by the Finance Act, 2021 was prospective and could not be applied retrospectively, leading to the deletion of the disallowed contributions. en-us Wed, 09 Mar 2022 00:00:00 +0530 Tue, 22 Mar 2022 11:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=419845 The ITAT Delhi ruled in favor of the assessee, deleting the disallowances of employees' PF and ESIC contributions deposited after the due date but before the due date for filing the Income Tax Return. The ITAT held that the legislative intent was to allow deductions when payments were actually made, not to treat belated payments as deemed income of the employer. Additionally, the ITAT determined that the amendment in section 36(1)(va) of the Income Tax Act by the Finance Act, 2021 was prospective and could not be applied retrospectively, leading to the deletion of the disallowed contributions. Case-Laws Income Tax Wed, 09 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=419845