PF/ESI Paid After Statutory Due Date Not Deductible, Sectiom 143(1)(a) Adjustment Sustained

SRC Projects Pvt. Ltd. Vs ACIT (ITAT Chennai) Chennai ITAT Upholds Disallowance of Delayed PF/ESI Employees’ Contribution Based on Checkmate; Adjustment u/s 143(1)(a) Held Valid  Background Assessee filed ROI declaring income of ₹10.16 crore. CPC processed return u/s 143(1) & disallowed ₹17,28,945 being delayed employees’ PF/ESI contribution, resulting in total income of ₹10.33 crore. Assessee filed 154 petition, which was rejected. CIT(A) relied on Supreme Court decision in Checkmate Services (2022). Held that delayed employees’ contribution beyond statutory due dates is...