https://www.taxtmi.com/caselaws?id=59460 The Tribunal upheld the CIT(A)'s decision to disallow Rs. 11,62,131 under sections 43B and 36(1)(va) of the IT Act due to late payments of statutory liabilities, including PF, gratuity, and superannuation fund contributions. It clarified that section 43B applies to all accounting systems, and the second proviso requires timely payments for deductions. Additionally, the Tribunal ruled that section 43B prevails over section 40A(7), emphasizing the mandatory nature of timely contributions for deductions. en-us Mon, 24 Feb 2003 00:00:00 +0530 Wed, 29 Dec 2010 18:15:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59460 The Tribunal upheld the CIT(A)'s decision to disallow Rs. 11,62,131 under sections 43B and 36(1)(va) of the IT Act due to late payments of statutory liabilities, including PF, gratuity, and superannuation fund contributions. It clarified that section 43B applies to all accounting systems, and the second proviso requires timely payments for deductions. Additionally, the Tribunal ruled that section 43B prevails over section 40A(7), emphasizing the mandatory nature of timely contributions for deductions. Case-Laws Income Tax Mon, 24 Feb 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59460