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 790 - AT - Income TaxDelayed payments of PF & ESI contribution relating employee’s contribution - payment before the due date of filing of return of income U/s 139(1) - Scope of amendment - HELD THAT:- As decided in PRATAP TECHNOCRATS PRIVATE LIMITED, PRAHLAD NARAYAN BAIRWA, JAIRAJ, THE EARTH HOUSE RESORTS LLP [2022 (3) TMI 1310 - ITAT JAIPUR] wherein did not accept the Ld. CIT(A)’s stand denying the claim of assessee since assessee delayed the employees contribution of EPF & ESI fund and as per section 36(1)(va) of the Act since assessee had deposited the employees contribution before filing of Return of Income. Therefore, the assessee succeeds - We are of the view that the amendment brought in the statue i.e., by Finance Act, 2021, the provisions of Section 36(1)(va) r.w.s. 43B of the Act amended by inserting explanation 2 is prospective and not retrospective. Hence, the amended provisions of Section 43B r.w.s. 36(1)(va) of the Act are not applicable for the assessment year under consideration i.e. 2018-19 but will apply from assessment year 2021-22 and subsequent assessment years. Hence, this issue raised in assessee’s appeal is allowed. Decided in favour of assessee.
|