https://www.taxtmi.com/caselaws?id=422411 The Tribunal allowed the appeals of the assessee, deleting the disallowances of employees' contributions to ESIC and EPF for both assessment years. The Tribunal relied on the judgment in 'Sagun Foundry' and concluded that contributions made before the filing of the return should be allowed as deductions, despite the late payment. The amendment by the Finance Act, 2021, clarifying that section 43B does not apply to employees' contributions, was noted as prospective from 1.4.2021. en-us Wed, 27 Apr 2022 00:00:00 +0530 Sat, 14 May 2022 08:38:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422411 The Tribunal allowed the appeals of the assessee, deleting the disallowances of employees' contributions to ESIC and EPF for both assessment years. The Tribunal relied on the judgment in 'Sagun Foundry' and concluded that contributions made before the filing of the return should be allowed as deductions, despite the late payment. The amendment by the Finance Act, 2021, clarifying that section 43B does not apply to employees' contributions, was noted as prospective from 1.4.2021. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422411