https://www.taxtmi.com/caselaws?id=420033 The Tribunal allowed the appeal, overturning the disallowance of employees' contribution to ESI & PF under section 36(1)(va) of the Income Tax Act for the assessment year 2019-20. It held that the contributions were made before the due date of filing the return of income and that the Finance Act, 2021 amendment applies prospectively from assessment year 2021-22. The decision emphasized adherence to jurisdictional High Court rulings, timely contributions, and the prospective nature of the amendment, leading to the deletion of the disallowance. en-us Fri, 11 Mar 2022 00:00:00 +0530 Fri, 25 Mar 2022 08:35:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420033 The Tribunal allowed the appeal, overturning the disallowance of employees' contribution to ESI & PF under section 36(1)(va) of the Income Tax Act for the assessment year 2019-20. It held that the contributions were made before the due date of filing the return of income and that the Finance Act, 2021 amendment applies prospectively from assessment year 2021-22. The decision emphasized adherence to jurisdictional High Court rulings, timely contributions, and the prospective nature of the amendment, leading to the deletion of the disallowance. Case-Laws Income Tax Fri, 11 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420033