Amendment to Section 36(1)(va) & 43B by Finance Act, 2021 applicable from AY 2021-22

Suman Solanki Vs DCIT (ITAT Jaipur) Introduction: The recent case of Suman Solanki vs DCIT (ITAT Jaipur) has brought clarity on the admissibility of PF/ESI contributions as deductions. The case revolves around the timely deposit of employees’ contributions to ESI and PF, and the subsequent disallowance made by the CPC in the assessment. This article provides an in-depth analysis of the case, examining the arguments presented and the tribunal’s ruling. Detailed Analysis: Background: The assessee filed the return of income, declaring total income. However, the Deputy Commissioner, wh...