https://www.taxtmi.com/caselaws?id=424043 The Tribunal allowed the appeal, directing the deletion of the disallowed amount for delayed EPF and ESI contributions. It held that belated payments should not be considered as deemed income, citing Delhi High Court judgments. The Finance Act, 2021 amendments were deemed prospective, reversing the denial of deductions for AY 2017-18. The Tribunal limited prima facie disallowance under Section 143(1), emphasizing the admissibility of employee contribution deductions supported by precedent. The appeal was successful, affirming the deductions for PF and ESIC contributions. en-us Tue, 07 Jun 2022 00:00:00 +0530 Tue, 21 Jun 2022 08:56:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424043 The Tribunal allowed the appeal, directing the deletion of the disallowed amount for delayed EPF and ESI contributions. It held that belated payments should not be considered as deemed income, citing Delhi High Court judgments. The Finance Act, 2021 amendments were deemed prospective, reversing the denial of deductions for AY 2017-18. The Tribunal limited prima facie disallowance under Section 143(1), emphasizing the admissibility of employee contribution deductions supported by precedent. The appeal was successful, affirming the deductions for PF and ESIC contributions. Case-Laws Income Tax Tue, 07 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424043