https://www.taxtmi.com/caselaws?id=432191 The Tribunal, in line with the Supreme Court's ruling, held that the employer must deposit employees' provident fund contributions within statutory deadlines to qualify for deductions. Failure to comply results in the amount being deemed as the employer's income. The amendment by the Finance Act, 2021, was deemed prospective, but the Court emphasized the importance of timely contributions regardless of the amendment. The appeal was dismissed due to the employer's failure to meet the statutory deadline, leading to the disallowance of the claimed deductions under relevant sections of the Income-tax Act. en-us Mon, 21 Nov 2022 00:00:00 +0530 Thu, 29 Dec 2022 10:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432191 The Tribunal, in line with the Supreme Court's ruling, held that the employer must deposit employees' provident fund contributions within statutory deadlines to qualify for deductions. Failure to comply results in the amount being deemed as the employer's income. The amendment by the Finance Act, 2021, was deemed prospective, but the Court emphasized the importance of timely contributions regardless of the amendment. The appeal was dismissed due to the employer's failure to meet the statutory deadline, leading to the disallowance of the claimed deductions under relevant sections of the Income-tax Act. Case-Laws Income Tax Mon, 21 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432191