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2015 (1) TMI 697 - HC - Income TaxReopening of assessment - contributions made under the Employees State Insurance Act and towards Labour Welfare Fund disallowed as payments were effected after the due date - Held that:- Ext.P1 and P3 orders of disallowance need to be modified to allow the deduction claimed by the petitioner in respect of the employers contribution under the Employees State Insurance Act. In the orders impugned in the writ petition, while considering the assessment of the petitioner, the respondents had erroneously disallowed these payments for the purposes of deduction under the Income Tax Act. The eligibility of the petitioner for deduction of the employers contribution is now settled through the retrospective amendment made to Section 43B by the Finance Act, 2003, as clarified by the Supreme Court in the case of Commissioner of Income Tax v. Solar Export [2012 (11) TMI 897 - SUPREME COURT] - Decided in favour of assessee.
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