https://www.taxtmi.com/caselaws?id=423791 The Tribunal allowed the appeal, ruling in favor of the assessee, emphasizing the jurisdictional High Court's judgment in 'Sagun Foundry (P.) Ltd. vs. CIT.' The addition of Rs. 3,37,008/- for late payment of employee contributions to ESI and PF was deleted. The interest charges under Sections 234B and 234C were considered excessive and illegal. The Tribunal held that the Finance Act, 2021 amendment to Section 36(1)(va) was prospective and not applicable to the assessment year in question. The order was pronounced on 06/04/2022. en-us Wed, 06 Apr 2022 00:00:00 +0530 Mon, 13 Jun 2022 16:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423791 The Tribunal allowed the appeal, ruling in favor of the assessee, emphasizing the jurisdictional High Court's judgment in 'Sagun Foundry (P.) Ltd. vs. CIT.' The addition of Rs. 3,37,008/- for late payment of employee contributions to ESI and PF was deleted. The interest charges under Sections 234B and 234C were considered excessive and illegal. The Tribunal held that the Finance Act, 2021 amendment to Section 36(1)(va) was prospective and not applicable to the assessment year in question. The order was pronounced on 06/04/2022. Case-Laws Income Tax Wed, 06 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423791