https://www.taxtmi.com/caselaws?id=420821 The Tribunal allowed both appeals of the assessee, setting aside the lower authorities' decisions regarding delayed PF & ESI contributions. Relying on the precedent set by the Calcutta High Court and the non-retrospective nature of Explanation-5 to section 43B, the Tribunal held that the contributions were made before the return filing deadline, thus disallowance was unwarranted. The Tribunal ordered the deletion of the impugned addition, ruling in favor of the assessee and emphasizing the binding nature of the High Court's decision. en-us Thu, 31 Mar 2022 00:00:00 +0530 Mon, 11 Apr 2022 08:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420821 The Tribunal allowed both appeals of the assessee, setting aside the lower authorities' decisions regarding delayed PF & ESI contributions. Relying on the precedent set by the Calcutta High Court and the non-retrospective nature of Explanation-5 to section 43B, the Tribunal held that the contributions were made before the return filing deadline, thus disallowance was unwarranted. The Tribunal ordered the deletion of the impugned addition, ruling in favor of the assessee and emphasizing the binding nature of the High Court's decision. Case-Laws Income Tax Thu, 31 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420821