https://www.taxtmi.com/caselaws?id=458215 The ITAT Hyderabad ruled against the assessee who deposited employee PF and ESI contributions after the prescribed due date. Following the SC precedent in Checkmate Services (P) Ltd., the tribunal held that deduction under section 43B is only admissible if deposits are made before the due date specified in the parent PF/ESI Act. The tribunal rejected the assessee's reliance on its own previous favorable decision, emphasizing that SC judgments are binding and override contrary tribunal decisions. The deduction claim was denied due to late payment. en-us Fri, 12 Jan 2024 00:00:00 +0530 Tue, 15 Oct 2024 20:00:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458215 The ITAT Hyderabad ruled against the assessee who deposited employee PF and ESI contributions after the prescribed due date. Following the SC precedent in Checkmate Services (P) Ltd., the tribunal held that deduction under section 43B is only admissible if deposits are made before the due date specified in the parent PF/ESI Act. The tribunal rejected the assessee's reliance on its own previous favorable decision, emphasizing that SC judgments are binding and override contrary tribunal decisions. The deduction claim was denied due to late payment. Case-Laws Income Tax Fri, 12 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458215