https://www.taxtmi.com/caselaws?id=428660 The ITAT allowed the appeal of the assessee, setting aside the disallowance of employees' contributions towards PF and ESIC. The Tribunal held that the contributions, deposited before the due date of filing the return, did not warrant disallowance under Sec. 43B of the Income-tax Act. The ITAT referred to previous case law and High Court judgments supporting this view, dismissing the general grounds of appeal as not pressed. The ITAT also clarified that recent legislative amendments would not apply retroactively, affirming the decision in favor of the assessee. en-us Wed, 14 Sep 2022 00:00:00 +0530 Thu, 06 Oct 2022 14:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428660 The ITAT allowed the appeal of the assessee, setting aside the disallowance of employees' contributions towards PF and ESIC. The Tribunal held that the contributions, deposited before the due date of filing the return, did not warrant disallowance under Sec. 43B of the Income-tax Act. The ITAT referred to previous case law and High Court judgments supporting this view, dismissing the general grounds of appeal as not pressed. The ITAT also clarified that recent legislative amendments would not apply retroactively, affirming the decision in favor of the assessee. Case-Laws Income Tax Wed, 14 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428660