https://www.taxtmi.com/caselaws?id=456714 ITAT Delhi held that deduction under section 36(1)(va) for employee contributions to PF/ESI is allowable only if deposited before the due date stipulated in respective Acts. Following SC precedent in Checkmate Services, the tribunal ruled that employee contributions constitute employer's income under section 2(24)(x), and deduction requires timely deposit in employee accounts. The CIT(A)'s deletion of disallowance for delayed deposits was set aside, and the Revenue's appeal was allowed, confirming that delayed deposits cannot claim deduction benefits. en-us Wed, 29 Mar 2023 00:00:00 +0530 Fri, 09 Aug 2024 20:31:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456714 ITAT Delhi held that deduction under section 36(1)(va) for employee contributions to PF/ESI is allowable only if deposited before the due date stipulated in respective Acts. Following SC precedent in Checkmate Services, the tribunal ruled that employee contributions constitute employer's income under section 2(24)(x), and deduction requires timely deposit in employee accounts. The CIT(A)'s deletion of disallowance for delayed deposits was set aside, and the Revenue's appeal was allowed, confirming that delayed deposits cannot claim deduction benefits. Case-Laws Income Tax Wed, 29 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456714