https://www.taxtmi.com/caselaws?id=754670 The ITAT Kolkata ruled against the assessee regarding delayed payment of PF/ESI contributions. The tribunal distinguished between employer's contribution under Section 36(1)(iv) and employee's contribution under Section 36(1)(va), following the SC decision in Checkmate Services Pvt. Ltd. The court held that employee contributions deducted from salaries must be deposited within the statutory due date to claim deduction. Since the assessee failed to deposit employee contributions timely, the entire amount was disallowed. The tribunal emphasized that employee contributions retain their character as deemed income under Section 2(24)(x) and are subject to strict compliance with Section 36(1)(va) conditions. en-us Thu, 22 Feb 2024 00:00:00 +0530 Thu, 27 Jun 2024 12:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754670 The ITAT Kolkata ruled against the assessee regarding delayed payment of PF/ESI contributions. The tribunal distinguished between employer's contribution under Section 36(1)(iv) and employee's contribution under Section 36(1)(va), following the SC decision in Checkmate Services Pvt. Ltd. The court held that employee contributions deducted from salaries must be deposited within the statutory due date to claim deduction. Since the assessee failed to deposit employee contributions timely, the entire amount was disallowed. The tribunal emphasized that employee contributions retain their character as deemed income under Section 2(24)(x) and are subject to strict compliance with Section 36(1)(va) conditions. Case-Laws Income Tax Thu, 22 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754670