https://www.taxtmi.com/caselaws?id=426896 The tribunal held that adjustments made under section 143(1) of the Income Tax Act for late deposits of employees' contributions to PF/ESI before the due date of filing returns under section 139(1) were unjustified. It found such adjustments unfair, unjust, and bad in law, directing the Assessing Officer to delete the additions. The tribunal determined that the amendments to sections 36(1)(va) and 43B were prospective, not retrospective, and emphasized the importance of natural justice in the assessment process. The tribunal set aside appellate orders involving section 143(1) adjustments, partly allowing the appeals and upholding one in favor of M/s Jagatjit Industries Ltd. en-us Thu, 25 Aug 2022 00:00:00 +0530 Fri, 26 Aug 2022 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=426896 The tribunal held that adjustments made under section 143(1) of the Income Tax Act for late deposits of employees' contributions to PF/ESI before the due date of filing returns under section 139(1) were unjustified. It found such adjustments unfair, unjust, and bad in law, directing the Assessing Officer to delete the additions. The tribunal determined that the amendments to sections 36(1)(va) and 43B were prospective, not retrospective, and emphasized the importance of natural justice in the assessment process. The tribunal set aside appellate orders involving section 143(1) adjustments, partly allowing the appeals and upholding one in favor of M/s Jagatjit Industries Ltd. Case-Laws Income Tax Thu, 25 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=426896