Delayed employees contribution to PF/ESIC deposited before due date of filing ROI u/s 139(1) is allowed as deduction

JCIT Vs Bharat Pumps And Compressors Ltd (ITAT Allahabad) Facts-  Main issue involved in the matter was that Employees contribution to VPF was deposited after due dates under explanation to section 36(1)(va) but before the end of relevant previous year is allowable deduction or not. Conclusion- Keeping in view strict and literal interpretation of provisions of Section 36(1)(va) of the 1961 Act read with Explanation 1 and Section 2(24)(x) of the 1961 Act , the assessee will not be entitled for deduction as the employee contribution towards PF received by assessee was deposited late beyond the ...