https://www.taxtmi.com/caselaws?id=456983 ITAT Mumbai initially allowed assessee's appeal regarding delayed PF/ESIC payment deductions under section 36(1)(va), following its earlier decision in Kalpesh Synthetics. However, SC subsequently ruled in Checkmate Services that employee contributions to PF/ESIC paid after statutory due dates are not deductible. Revenue filed rectification application under section 254(2). ITAT held that non-consideration of SC decisions constitutes mistake apparent from record, citing Saurashtra Kutch Stock Exchange principle that judicial decisions operate retrospectively. Following SC precedent in Checkmate Services, ITAT rectified its earlier order and dismissed assessee's appeal, denying deduction for delayed PF/ESIC payments. en-us Fri, 11 Aug 2023 00:00:00 +0530 Thu, 29 Aug 2024 17:32:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=456983 ITAT Mumbai initially allowed assessee's appeal regarding delayed PF/ESIC payment deductions under section 36(1)(va), following its earlier decision in Kalpesh Synthetics. However, SC subsequently ruled in Checkmate Services that employee contributions to PF/ESIC paid after statutory due dates are not deductible. Revenue filed rectification application under section 254(2). ITAT held that non-consideration of SC decisions constitutes mistake apparent from record, citing Saurashtra Kutch Stock Exchange principle that judicial decisions operate retrospectively. Following SC precedent in Checkmate Services, ITAT rectified its earlier order and dismissed assessee's appeal, denying deduction for delayed PF/ESIC payments. Case-Laws Income Tax Fri, 11 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=456983