Amendment to Section 43B is retrospective -SC

Amendment to Section 43B on deduction of contribution for PF, superannuation fund, gratuity fund etc is retrospective Whether amendment to Section 43B (Section) of Income Tax Act,1961, enacted with effect from 1 April 2004, is retrospectively applicable? This amendment was introduced to rationalize the tax deduction of the employer’s contribution to provident fund, superannuation fund, gratuity fund and such other funds for the welfare of employees (social security contributions). The SC held that the amendment, being curative in nature, should be construed as retrospectively applicable ...