https://www.taxtmi.com/caselaws?id=303194 The tribunal ruled in favor of the assessee on both issues. The disallowance of club expenditure was overturned based on consistency, as the assessee had consistently incurred such expenses for business purposes. The disallowance of PF & ESI contribution was set aside since the contributions were made before the income tax return filing due date, and the tribunal held that the amendment was not applicable to the assessment year in question. The tribunal emphasized the prospective nature of the Finance Act 2021 amendment, applying from AY 2021-22 onwards. en-us Tue, 05 Apr 2022 00:00:00 +0530 Thu, 07 Jul 2022 21:22:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=303194 The tribunal ruled in favor of the assessee on both issues. The disallowance of club expenditure was overturned based on consistency, as the assessee had consistently incurred such expenses for business purposes. The disallowance of PF & ESI contribution was set aside since the contributions were made before the income tax return filing due date, and the tribunal held that the amendment was not applicable to the assessment year in question. The tribunal emphasized the prospective nature of the Finance Act 2021 amendment, applying from AY 2021-22 onwards. Case-Laws Income Tax Tue, 05 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=303194