https://www.taxtmi.com/caselaws?id=459858 The court held that the disallowance made by the Assessing Officer under Section 36(1)(va) of the Income-tax Act, 1961, was unjustified for assessment years prior to 2021-22. It concluded that the employees' EPF and ESI contributions, deposited after the due date under the respective Acts but before the due date for filing the return under Section 139(1), should be allowed as deductions. The court emphasized that the Finance Act, 2021 amendment is prospective, and thus, the established legal position by various High Courts applies. The appeals were allowed, and the disallowances were directed to be deleted. en-us Tue, 26 Jul 2022 00:00:00 +0530 Tue, 31 Dec 2024 23:47:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459858 The court held that the disallowance made by the Assessing Officer under Section 36(1)(va) of the Income-tax Act, 1961, was unjustified for assessment years prior to 2021-22. It concluded that the employees' EPF and ESI contributions, deposited after the due date under the respective Acts but before the due date for filing the return under Section 139(1), should be allowed as deductions. The court emphasized that the Finance Act, 2021 amendment is prospective, and thus, the established legal position by various High Courts applies. The appeals were allowed, and the disallowances were directed to be deleted. Case-Laws Income Tax Tue, 26 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459858