https://www.taxtmi.com/caselaws?id=421930 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to grant the deduction for employees' contributions to PF and ESI. The disallowance made by the AO was deleted as the Tribunal held that both employer's and employees' contributions are deductible if paid before the due date of filing the return, contrary to the CIT(A)'s decision. The Tribunal also determined that the amendments proposed by the Finance Bill, 2021, are prospective and do not apply retrospectively to the assessment year 2019-2020. en-us Wed, 13 Apr 2022 00:00:00 +0530 Thu, 05 May 2022 08:33:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=421930 The Tribunal allowed the appeal filed by the assessee, directing the Assessing Officer to grant the deduction for employees' contributions to PF and ESI. The disallowance made by the AO was deleted as the Tribunal held that both employer's and employees' contributions are deductible if paid before the due date of filing the return, contrary to the CIT(A)'s decision. The Tribunal also determined that the amendments proposed by the Finance Bill, 2021, are prospective and do not apply retrospectively to the assessment year 2019-2020. Case-Laws Income Tax Wed, 13 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=421930