https://www.taxtmi.com/caselaws?id=423888 The Tribunal dismissed the Revenue's appeal, holding that the disallowance of Rs. 3,59,128/- for delayed payment of the employee's contribution to welfare funds was not sustainable as the contributions were made before filing the income tax return. The Tribunal clarified that the amendments introduced by the Finance Act, 2021 were prospective from the assessment year 2020-21 and did not apply to the assessment year 2018-19. Additionally, the Tribunal found that Circular No. 22/2015 issued by the CBDT did not change the legal position for the relevant assessment year. en-us Mon, 23 May 2022 00:00:00 +0530 Fri, 17 Jun 2022 09:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423888 The Tribunal dismissed the Revenue's appeal, holding that the disallowance of Rs. 3,59,128/- for delayed payment of the employee's contribution to welfare funds was not sustainable as the contributions were made before filing the income tax return. The Tribunal clarified that the amendments introduced by the Finance Act, 2021 were prospective from the assessment year 2020-21 and did not apply to the assessment year 2018-19. Additionally, the Tribunal found that Circular No. 22/2015 issued by the CBDT did not change the legal position for the relevant assessment year. Case-Laws Income Tax Mon, 23 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423888