2008 (8) TMI 304 - MADRAS HIGH COURT

Nature and effect of amendment to Section 43B – payment of contribution to provident fund - the amendment is made applicable from the assessment year 2004-05 - held that amendment is retrospective - the contribution has been paid prior to the filing of the return. The Supreme Court decision in Vinay Cement Ltd.’s in which the the benefit extended to assessee squarely covers the issue and the assessee is entitled to the benefit under section 43B of the Income-tax Act – amendment retrospective in nature.