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2022 (4) TMI 710 - AT - Income TaxDisallowance of Employees' Contribution to EPF/ESI deposited belatedly - Amount claimed to have been paid before the due date of return of income under section 139(1) - Scope of amended provisions of section 36(1) (va) as well as section 43B vide Finance Bill, 2021 - HELD THAT:- As after the amendment in the provisions of section 36(1) (va) read with section 43B vide Finance Bill, 2021, it is clear that the said amendment as per the memorandum of the Finance Bill is applicable only from the assessment year 2021-22. So far as the allowability of the deduction in respect of employees' contribution to EPF/ESI deposited before the due date of filing of return of income under section 139(1), the same is allowable for the year under consideration as amended provisions of section 36(1) (va) as well as 43B are applicable only from the assessment year 2021-22. Hence, this issue on principle is decided in favour of the assessee and against the Revenue. However, the Assessing Officer is directed to verify the actual date of payment of the Employees' Contribution towards EPF & ESI and if the same is found deposited before the due date of filing of return under section 139(1) of the Income Tax Act, the same be allowed.
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