TMI Blog2021 (7) TMI 1265X X X X Extracts X X X X X X X X Extracts X X X X ..... ture has not only incorporated necessary amendment in Sections 36(1)(va) as well as 43B vide Finance Act, 2021 to this effect but also the CBDT has issued Memorandum of Explanation that the same applies w.e.f. 1.4.2021 only - as not an issue that the foregoing legislative amendments have proposed employers contribution/ disallowance u/s 43B as against employee s contribution u/s 36 (va) of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) of the Income Tax Act, 1961 [in short the Act ]. Heard both the parties. Case file perused. The Assessee has raised the following substantive grounds in its appeal. 2. The ld.CIT(A) erred in confirming the addition of ₹ 2,83,203/- made by the Assessing Officer representing delay in remittance of employees contribution towards provident fund. 3. The ld.CIT(A) erred in confirmi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... disallowance u/s 43B as against employee s contribution u/s 36 (va) of the Act; respectively. However, keeping in mind the fact that the same has been clarified to be applicable only with prospective effect from 1.4.2021, we hold that the impugned disallowance is not sustainable in view of all these latest developments. The impugned ESI/PF disallowance is deleted therefore. This assessee s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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