https://www.taxtmi.com/caselaws?id=423000 The Tribunal ruled in favor of the assessee by directing the deletion of the addition of Rs. 3,97,41,559/- on account of employee contributions to ESI and EPF. It held that the amendments brought by the Finance Act, 2021, were prospective and not applicable for the assessment year in question. Additionally, the Tribunal deemed the adjustments made under Section 143(1) invalid on debatable issues and instructed the re-computation of interest under Sections 234A, 234B, and 234C, providing consequential relief to the assessee. The appeal was partly allowed for statistical purposes. en-us Tue, 24 May 2022 00:00:00 +0530 Fri, 27 May 2022 09:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423000 The Tribunal ruled in favor of the assessee by directing the deletion of the addition of Rs. 3,97,41,559/- on account of employee contributions to ESI and EPF. It held that the amendments brought by the Finance Act, 2021, were prospective and not applicable for the assessment year in question. Additionally, the Tribunal deemed the adjustments made under Section 143(1) invalid on debatable issues and instructed the re-computation of interest under Sections 234A, 234B, and 234C, providing consequential relief to the assessee. The appeal was partly allowed for statistical purposes. Case-Laws Income Tax Tue, 24 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423000