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2022 (3) TMI 1535 - AT - Income TaxDelayed Employees Contribution to Provident Fund/ E.S.I deposited during the Financial Year itself before due date of filing of Return - Disallowances u/s 36(1)(v)(a) r.w.s. 43B - Scope of amendment as inserted in the Act by Finance Act 2021 - HELD THAT:- As recently in the matter of Mahadev Cold storage [2021 (6) TMI 506 - ITAT AGRA] had the occasion to deal with the issue of disallowance under section 43B of the act and after elaborate examining the law on the subject, it was held that the disallowance under section 43B of the act is not permissible if the assessee had made the contribution before the due date of filing of the return of income. The same principle, continues to hold good for issue under consideration as the assessment years under consideration, are much prior to the year of amendment which was inserted in the Act by Finance Act 2021, which had provided the consequence of not depositing the amount within the time provided by the act resulting into the disallowance of the contribution made by the assessee. Thus AO was not justified in denying, the deduction claimed by the assessee on account of late deposit of PF/ESI/EPF, albeit before filing the return of income - Decided in favour of assessee.
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