2008 (2) TMI 400 - HC - Income Tax

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. The section as it stood earlier was that the employers’ contribution to provident fund if not paid within the due date the employer was not entitled to deduction – held that amendment is prospective and not retrospective - dismissal of the special leave petition cannot be said to be the law decided