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2022 (5) TMI 1333 - AT - Income TaxLate deposit of employee's share towards Provident Fund by resort to provisions of Section 36(1)(va) read with section 2(24) - HELD THAT:- It is seen that in the facts of the present case no doubt that there was a delay in the payments of PF in respect of employees contribution as far as time line set out by the relevant statute is concerned. However, it is not disputed that the payments of PF amounting to Rs. 4,62,844/- was paid well before the furnishing of the return. Accordingly, considering the position of law as has been consistently considered by the ITAT we allow the ground. The amendments carried out in section 36(1)(va) and 43B by the Finance Act, 2021 consistently have been held to be prospective in nature and and will kick in from 2020-21 Assessment Year - Appeal of assessee allowed.
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