TMI Blog2021 (11) TMI 1021X X X X Extracts X X X X X X X X Extracts X X X X ..... t the amendment is applicable from 2021-22 and subsequent assessment year. Accordingly, considering the factual backdrop of the present case and considering the amendments in Section 36(1)(va) as well as Section 43B carried out by Finance Act, 2021 and Memorandum explaining the provisions in Finance Bill, 2021 we hold that the impugned disallowance is not sustainable. Accordingly, it is directed to be deleted. The appeal of the assessee is allowed. - ITA No. 184/CHD/2021 - - - Dated:- 16-11-2021 - SMT. DIVA SINGH, JM AND SMT.ANNAPURNA GUPTA, AM For the Assessee : Shri Dhruv Goyal,CA For the Revenue : Shri Ashok Khanna, Sr. DR ORDER PER DIVA SINGH The present appeal has been filed by the assessee wherein the c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 781/-. The addition was made on account of the fact that this amount out of a payment of ₹ 7,03,888/- was found to have been deposited late in terms of the statutory requirements of the specific Act. The assessee s submissions in appeal that the specific amount stood paid before the due date of filing the return was considered to be not relevant. The ld. Commissioner relied upon the Amendments carried out by the Finance Act, 2021 wherein by insertion of Explanation-2 and Explanation-4 to Section 36(1)(va) and Section 43B respectively stood amended. The Amendments were considered to be clarificatory in nature. The legal position on this issue is no longer res integra. The various ITAT Benches namely; Delhi Benches vide order dated 03.0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2021 is applicable prospectively. Reading from the Notes on Clauses at the time of introduction of the Finance Act, 2021, it has been held that the amendment is applicable from 2021-22 and subsequent assessment year. Accordingly, considering the factual backdrop of the present case and considering the amendments in Section 36(1|)(va) as well as Section 43B carried out by Finance Act, 2021 and Memorandum explaining the provisions in Finance Bill, 2021 we hold that the impugned disallowance is not sustainable. Accordingly, it is directed to be deleted. The appeal of the assessee is allowed. Said order was pronounced in the presence of the parties via Webex. 5. In the result, appeal of the assessee is allowed. Order pronounced on 16th N ..... X X X X Extracts X X X X X X X X Extracts X X X X
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