Amended to section 43B & 36(1)(va) vide Finance Act, 2021 not applicable to AY 2018-19 & 2019-20

Sri. Yeruva Prasad Vs ACIT/DCIT (ITAT Bangalore) 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 i.e. 2018-19 & 2019-20. By following the binding decision of the Hon’ble jurisdictional High Court in the case of Essae Teraoka Pvt. Ltd Vs. DCIT (supra), the employees’ contribution paid by the assessee before the due date of filing of return of income u/s 139(1) of the I.T. Act is an allowable deduction. Accordingly, we decide this issue in favour of the assessee and the disallowance made by the Asse...