TMI Blog2021 (6) TMI 1142X X X X Extracts X X X X X X X X Extracts X X X X ..... nts in Sections 36(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. It is further not an issue that the foregoing legislative amendments have proposed employer s contribution; disallowance u/s 43B as against employee s contribution u/s 36 (va) respectively. Keeping in mind the fact that th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es. Case file perused. Assessee has raised the following substantive grounds in its appeal. The order of the Ld. CIT (A) -I, Hyderabad is erroneous both on facts and in law, to the extent the order is prejudicial to the interest of the appellant. 2. The Ld. CIT (A) erred in dismissing the appeal of the appellant on the issue of addition towards disallowance of payment of employee contrib ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ffect: Rs. 13,33,033/-] 5. The Ld. CIT (A) ought to have fairly appreciated the fact that the appellant company has paid employee contribution of PF and ESI, before the due date for filing of return of income as laid down in section 139(1) of the Act and furnished proof of such payments and therefore such payments are allowable deductions u/ s 43 B of the Act. [tax effect: Rs. 13,33,033/-] 6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the appeal. 2. Coming to the sole substantive issue of ESI/PF disallowance of Rs. 13,33,033/-, the assessee s and revenue s plea that the same has been paid before the due date of filing sec. 139(1) return and after the due date prescribed in the corresponding statutes; respectively. We notice in this factual backdrop that the legislature has not only incorporated necessary amendments in S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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