https://www.taxtmi.com/caselaws?id=459827 The Tribunal rectified its previous orders allowing deductions for employees' EPF and ESI contributions deposited after the statutory due date but before the income tax return filing deadline. This decision was prompted by a Supreme Court ruling in Checkmate Services P. Ltd. v. CIT, which clarified that such deductions are permissible only if deposits are made within statutory deadlines. The Tribunal acknowledged the retrospective effect of the Supreme Court's decision, requiring correction of its earlier orders under section 254(2) of the Income Tax Act, aligning with the binding interpretation of the law. en-us Fri, 20 Oct 2023 00:00:00 +0530 Mon, 30 Dec 2024 19:58:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459827 The Tribunal rectified its previous orders allowing deductions for employees' EPF and ESI contributions deposited after the statutory due date but before the income tax return filing deadline. This decision was prompted by a Supreme Court ruling in Checkmate Services P. Ltd. v. CIT, which clarified that such deductions are permissible only if deposits are made within statutory deadlines. The Tribunal acknowledged the retrospective effect of the Supreme Court's decision, requiring correction of its earlier orders under section 254(2) of the Income Tax Act, aligning with the binding interpretation of the law. Case-Laws Income Tax Fri, 20 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459827