Amended provisions of section 43B & 36(1)(va) not applicable for AYs prior to AY 2021-22

Eskay Heat Transfers Private Limited Vs ADIT (ITAT Bangalore) Till Assessment Year (AY) 2020-2021 Assessee would be entitled to deduction of employees’ contribution to PF and ESI provided that the payments were made prior to the due date of filing of the return of income u/s 139(1) of the I.T.Act as Amendment by Finance Act, 2021, to section 36[1][va] and 43B of the Act is not clarificatory and are applicable from Assessment Year 2021-22. The amended provisions of section 43B as well as 36(1)(va) of the I.T.Act are not applicable for the assessment years under consideration. By following the...