https://www.taxtmi.com/caselaws?id=761239 ITAT Raipur dismissed the assessee's appeal regarding delayed deposit of employees' ESIC and EPF contributions. Following SC precedent in Checkmate Services Pvt. Ltd., the tribunal held that employee contributions deposited beyond statutory due dates constitute income under Section 36(1)(va) read with Section 2(24)(x). The tribunal rejected the assessee's Section 154 application seeking to set aside disallowance made via intimation under Section 143(1)(a). The court emphasized that employee contributions are held in trust and must be deposited by the due date for deduction eligibility, with Section 43B's non-obstante clause not absolving this obligation. en-us Wed, 04 Sep 2024 00:00:00 +0530 Wed, 06 Nov 2024 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761239 ITAT Raipur dismissed the assessee's appeal regarding delayed deposit of employees' ESIC and EPF contributions. Following SC precedent in Checkmate Services Pvt. Ltd., the tribunal held that employee contributions deposited beyond statutory due dates constitute income under Section 36(1)(va) read with Section 2(24)(x). The tribunal rejected the assessee's Section 154 application seeking to set aside disallowance made via intimation under Section 143(1)(a). The court emphasized that employee contributions are held in trust and must be deposited by the due date for deduction eligibility, with Section 43B's non-obstante clause not absolving this obligation. Case-Laws Income Tax Wed, 04 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761239