https://www.taxtmi.com/caselaws?id=422912 The Tribunal ruled in favor of the assessee, allowing the appeal and deleting the disallowance of Rs. 15,58,782 under Section 36(1)(va) for late payment of employee contributions to ESIC/EPF. The Tribunal held that the contributions, though deposited late, were made before filing the return for the relevant assessment year, following precedents that allow deductions if payments are made before the return filing deadline. The Tribunal emphasized that the amendment to Section 36(1)(va) by the Finance Act, 2021, is prospective and does not apply retrospectively. en-us Tue, 17 May 2022 00:00:00 +0530 Tue, 24 May 2022 11:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422912 The Tribunal ruled in favor of the assessee, allowing the appeal and deleting the disallowance of Rs. 15,58,782 under Section 36(1)(va) for late payment of employee contributions to ESIC/EPF. The Tribunal held that the contributions, though deposited late, were made before filing the return for the relevant assessment year, following precedents that allow deductions if payments are made before the return filing deadline. The Tribunal emphasized that the amendment to Section 36(1)(va) by the Finance Act, 2021, is prospective and does not apply retrospectively. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422912