https://www.taxtmi.com/caselaws?id=310993 ITAT Jabalpur ruled that delayed employee welfare fund contributions deposited by the return filing due date could not be disallowed under section 36(1)(va) through section 143(1) adjustment. The Tribunal held that explanatory amendments to the Finance Act 2021 were prospective, applicable from assessment year 2021-22 onwards, not retrospective. Since no contrary jurisdictional HC decision existed, and the scope of section 143(1) adjustments is limited, the additions were deleted. The decision followed the precedent in Nikhil Mohine case regarding prospective application of statutory explanations. en-us Thu, 07 Apr 2022 00:00:00 +0530 Thu, 30 Nov 2023 20:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310993 ITAT Jabalpur ruled that delayed employee welfare fund contributions deposited by the return filing due date could not be disallowed under section 36(1)(va) through section 143(1) adjustment. The Tribunal held that explanatory amendments to the Finance Act 2021 were prospective, applicable from assessment year 2021-22 onwards, not retrospective. Since no contrary jurisdictional HC decision existed, and the scope of section 143(1) adjustments is limited, the additions were deleted. The decision followed the precedent in Nikhil Mohine case regarding prospective application of statutory explanations. Case-Laws Income Tax Thu, 07 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310993