https://www.taxtmi.com/caselaws?id=456946 Belated employees' contributions to provident fund and ESIC are treated as income under section 2(24)(x), and deduction under section 36(1)(va) is unavailable where remittance is delayed. On that basis, the Tribunal followed binding Supreme Court and co-ordinate bench authority to sustain disallowance of the delayed employee contribution. It further held that, where the audit report itself records the delay, the resulting adjustment is permissible in processing under section 143(1). The taxpayer's challenge to both the disallowance and the prima facie adjustment therefore failed. en-us Tue, 07 Feb 2023 00:00:00 +0530 Wed, 28 Aug 2024 09:08:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456946 Belated employees' contributions to provident fund and ESIC are treated as income under section 2(24)(x), and deduction under section 36(1)(va) is unavailable where remittance is delayed. On that basis, the Tribunal followed binding Supreme Court and co-ordinate bench authority to sustain disallowance of the delayed employee contribution. It further held that, where the audit report itself records the delay, the resulting adjustment is permissible in processing under section 143(1). The taxpayer's challenge to both the disallowance and the prima facie adjustment therefore failed. Case-Laws Income Tax Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456946