https://www.taxtmi.com/caselaws?id=456554 The Tribunal allowed the Revenue's rectification application, recalling its previous order in ITA No. 2075/Mum/2021, due to a subsequent Supreme Court decision in Checkmate Services Pvt. Ltd. v. CIT. The SC ruling clarified that delayed deposits of Employees' Contributions to Provident Fund and ESI, beyond statutory deadlines, are not deductible under Section 36(1)(va) of the Act, impacting the Tribunal's initial decision. This rectification underscores the retrospective effect of SC judgments on tax interpretations and the necessity for courts to align with prevailing legal precedents. en-us Thu, 24 Aug 2023 00:00:00 +0530 Thu, 01 Aug 2024 08:28:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456554 The Tribunal allowed the Revenue's rectification application, recalling its previous order in ITA No. 2075/Mum/2021, due to a subsequent Supreme Court decision in Checkmate Services Pvt. Ltd. v. CIT. The SC ruling clarified that delayed deposits of Employees' Contributions to Provident Fund and ESI, beyond statutory deadlines, are not deductible under Section 36(1)(va) of the Act, impacting the Tribunal's initial decision. This rectification underscores the retrospective effect of SC judgments on tax interpretations and the necessity for courts to align with prevailing legal precedents. Case-Laws Income Tax Thu, 24 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456554