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| The Tax Publishers2022 TaxPub(DT) 2081 (Del-Trib) : (2022) 194 ITD 0802 INCOME TAX ACT, 1961
Section 36(1)(va) Section 43B
As per Memorandum explaining the provisions in Finance Bill, 2021 the specific amendments would take effect from 1-4-2021, therefore, no disallowance was called for belated payment of employees' contributions to respective ESI and EPF fund in case of assessee deposited the same before due date of filing of IT Return.
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Business deduction under section 36(1)(va) - Deposit of employees' contribution of ESI and EPF - Payment made beyond due date under relevant Acts but within due date under section 139(1) -
Assessee claimed deduction under section 36(1)(va) on account of deposit of employees' contributions of ESI and EPF. AO disallowed deduction on account of payment made beyond due date under relevant Acts. Assessee pleaded to have made payment before due date of filing of return under section 139(1). Held: As per Memorandum explaining the provisions in Finance Bill, 2021 the specific amendments would take effect from 1-4-2021, therefore, no disallowance was called for belated payment of employees' contribution to respective ESI and EPF fund in case of assessee deposited the same before due date of filing of IT Return.
Relied:CIT v. AIMIL Ltd. (2010) 321 ITR 508 (Del) : 2010 TaxPub(DT) 1231 (Del-HC) vide Order, dated 23-12-2009 and CIT v. Vinay Cements Ltd. (2007) 213 CTR 268 (SC) : 2007 TaxPub(DT) 1068 (SC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2016-17 to 2019-20
IN THE ITAT DELHI 'G', BENCH
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