https://www.taxtmi.com/caselaws?id=302979 The tribunal allowed the appeal, ruling in favor of the assessee by deleting the impugned additions under section 36(1)(va). It emphasized the prospective application of the amendments introduced by the Finance Act, 2021, contrary to the CIT(A)'s view of retrospective applicability. The case focused on the distinction between employees' and employer's contributions under the Income Tax Act 1961, particularly regarding the allowability of employees' share of contribution to PF and ESI. The tribunal's decision was influenced by various judicial pronouncements, including the Essae Teraoka Pvt. Ltd. case from the Hon'ble Karnataka High Court. en-us Wed, 02 Mar 2022 00:00:00 +0530 Mon, 27 Jun 2022 15:50:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302979 The tribunal allowed the appeal, ruling in favor of the assessee by deleting the impugned additions under section 36(1)(va). It emphasized the prospective application of the amendments introduced by the Finance Act, 2021, contrary to the CIT(A)'s view of retrospective applicability. The case focused on the distinction between employees' and employer's contributions under the Income Tax Act 1961, particularly regarding the allowability of employees' share of contribution to PF and ESI. The tribunal's decision was influenced by various judicial pronouncements, including the Essae Teraoka Pvt. Ltd. case from the Hon'ble Karnataka High Court. Case-Laws Income Tax Wed, 02 Mar 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302979