https://www.taxtmi.com/caselaws?id=420370 The Tribunal allowed the appeal, setting aside the disallowances of PF & ESIC contributions and inadmissible expenses made by the Assessing Officer and CIT(A). The Tribunal held that employees' contributions to PF & ESIC are deductible under Sec. 43B, and no disallowance under Sec. 14A can be made without exempt income. The Tribunal clarified that recent amendments are prospective from A.Y 2021-22. The order was pronounced on 30th March 2022. en-us Wed, 30 Mar 2022 00:00:00 +0530 Fri, 01 Apr 2022 08:33:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420370 The Tribunal allowed the appeal, setting aside the disallowances of PF & ESIC contributions and inadmissible expenses made by the Assessing Officer and CIT(A). The Tribunal held that employees' contributions to PF & ESIC are deductible under Sec. 43B, and no disallowance under Sec. 14A can be made without exempt income. The Tribunal clarified that recent amendments are prospective from A.Y 2021-22. The order was pronounced on 30th March 2022. Case-Laws Income Tax Wed, 30 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420370