Amendment to section 36(1)(va) of Income Tax Act is applicable prospectively

Mavinahalli Shivananjappa Vijay Kumar Vs DCIT, CPC (ITAT Bangalore) Disallowance of Employees contribution of PF & ESI u/s 36(1)(va) remitting the dues beyond the due date prescribed under the respective Statutes Explanatory memorandum to the Finance Act, 2021 proposing amendment in section 36(1)(va) as well as section 43B is applicable only from 01.04.2021. These provisions impose a liability on an assessee and therefore cannot be construed as applicable with retrospective effect unless the legislature specifically says so. In the decisions referred to by us in the earlier paragraph of th...