Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (8) TMI 443 - AT - Income TaxDelayed Employees contribution to PF, ESIC and Labor Welfare Fund - AO disallowed the impugned amount on the ground that it was paid belatedly after the due date under the relevant Acts - Scope of amendment - HELD THAT:- We hold that the amendment brought about in the Finance Act, 2021 is only prospective and not retrospective and applies to assessment year 2022-23 and to subsequent assessment years thereto. Therefore, we are of the considered opinion that the contribution to PF, ESIC and Labour Welfare Fund paid after the specified due dates under the relevant Acts, nevertheless paid before the due date for filing the return of income is allowable. The Assessing Officer is directed to allow the deduction as claimed. - Decided in favour of assessee.
|