https://www.taxtmi.com/caselaws?id=456469 The Tribunal allowed the assessee's appeal, ruling that PF and ESI payments made beyond their respective due dates but before the due date for filing the return for the assessment year 2019-2020 were allowable. The Tribunal, referencing a Delhi HC judgment, determined that the Finance Act, 2021 amendment to section 36(1)(va) was prospective. Consequently, the addition made by the AO and confirmed by the CIT(A) was deleted, favoring the assessee. The decision aligned with established legal principles and previous Tribunal decisions, emphasizing the prospective nature of the amendment. en-us Tue, 20 Sep 2022 00:00:00 +0530 Sun, 28 Jul 2024 11:22:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456469 The Tribunal allowed the assessee's appeal, ruling that PF and ESI payments made beyond their respective due dates but before the due date for filing the return for the assessment year 2019-2020 were allowable. The Tribunal, referencing a Delhi HC judgment, determined that the Finance Act, 2021 amendment to section 36(1)(va) was prospective. Consequently, the addition made by the AO and confirmed by the CIT(A) was deleted, favoring the assessee. The decision aligned with established legal principles and previous Tribunal decisions, emphasizing the prospective nature of the amendment. Case-Laws Income Tax Tue, 20 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456469