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2021 (12) TMI 1282 - AT - Income TaxDisallowance of employees' contribution made to the respective funds of the Government under PF & ESI Act - assessee has not remitted the employees' contribution on the due date as prescribed by the PF & ESI Act, thus the contribution made belatedly cannot be allowed - Scope of amendment - HELD THAT:- Respectfully following the decision of M/s. Lumino Industries [2021 (11) TMI 926 - ITAT KOLKATA] we are inclined to allow the appeals of the assessee and direct the A.O to delete the addition and hold that the Amendment brought in Finance Act 2021 w.e.f. 01.04.2021 by inserting an Explanation to section 36(1)(va) and section 43B of the Act is prospective in nature in nature and would apply from AY 2021-22 onwards and therefore, the amendment is not applicable to these assessment years (AYs 2014-15, 2017-18 & 2019-20) under consideration.- Decided in favour of assessee.
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