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2022 (8) TMI 1177 - AT - Income TaxAddition u/s. 43B and 36(1)(va) - delayed payment of employees' contribution deposited by employer with the EPF and ESIC authorities - Payment beyond the due date specified under the relevant laws but before the due date for filing the return of income under section 139 of the Act - scope of amendment in section 36(1)(va) as well as section 43B - HELD THAT:- The explanatory memorandum to the Finance Act, 2021 proposing amendment in section 36(1)(va) as well as section 43B is applicable only from 01.04.2021. These provisions impose a liability on an assessee and therefore cannot be construed as applicable with retrospective effect unless the legislature specifically says so. The aforesaid amendment is applicable only prospectively i.e., from 1.4.2021. We are therefore of the view that the impugned additions made under section 36(1)(va) of the Act, deserves to be deleted. - Decided in favour of assessee.
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