https://www.taxtmi.com/caselaws?id=422564 The Tribunal ruled in favor of the assessee, allowing the appeal and overturning the disallowance of Rs. 1,63,230 towards ESIC and EPF contributions. It held that the amendment by the Finance Act, 2021, clarifying the non-retrospective application of Section 43B to employees' contributions, is prospective from April 1, 2021. The decision was supported by various case laws, emphasizing that the amendment aimed to provide certainty and was not intended to have retrospective effect. en-us Wed, 27 Apr 2022 00:00:00 +0530 Mon, 16 May 2022 11:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422564 The Tribunal ruled in favor of the assessee, allowing the appeal and overturning the disallowance of Rs. 1,63,230 towards ESIC and EPF contributions. It held that the amendment by the Finance Act, 2021, clarifying the non-retrospective application of Section 43B to employees' contributions, is prospective from April 1, 2021. The decision was supported by various case laws, emphasizing that the amendment aimed to provide certainty and was not intended to have retrospective effect. Case-Laws Income Tax Wed, 27 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422564