https://www.taxtmi.com/caselaws?id=420867 The Tribunal held that the disallowance of PF & ESI contributions for AY 2019-20 was not valid due to the retrospective misinterpretation of the Finance Act 2021 amendment. The judgment emphasized the prospective application of the amendment from AY 2021-22 onwards, directing the AO to allow deductions for contributions paid before the return filing due date. The matter was remitted for verification of payment dates, ultimately allowing the appeal for statistical purposes and stressing the significance of timely contributions for deductions under the Income-tax Act, 1961. en-us Wed, 23 Mar 2022 00:00:00 +0530 Tue, 12 Apr 2022 09:16:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=420867 The Tribunal held that the disallowance of PF & ESI contributions for AY 2019-20 was not valid due to the retrospective misinterpretation of the Finance Act 2021 amendment. The judgment emphasized the prospective application of the amendment from AY 2021-22 onwards, directing the AO to allow deductions for contributions paid before the return filing due date. The matter was remitted for verification of payment dates, ultimately allowing the appeal for statistical purposes and stressing the significance of timely contributions for deductions under the Income-tax Act, 1961. Case-Laws Income Tax Wed, 23 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=420867