Deduction u/s 36(1)(va) available only if employees’ share is deposited by employer before due date

National Housing Bank Vs CIT (ITAT Delhi)

ITAT Delhi held that the deduction u/s 36(1)(va) of the Income Tax Act can be allowed only if the employees’ share in the provident fund and ESI fund is deposited by the employer before the due date stipulated in respective Acts.

Facts- Assessee is a financial institution stated to be engaged in the business of providing long term finance for construction or purchase of houses in India for residential purposes. Assessee filed its

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