Disallowance due to delayed payment of employees’ contribution to PF and ESIC justified

Shilpa Steel And Power Ltd. Vs DCIT (ITAT Nagpur) ITAT Nagpur held that delayed payment of employees’ contribution to PF and ESIC is liable to be disallowed. Accordingly, addition to extent of belated payment confirmed. Facts- In the intimation u/s. 143(1), addition of Rs. 26,49,199, was made on account of late payment of contribution received from Employees for Provident Fund and State Insurance Corporation Fund. After the receipt of intimation, the assessee found mistake in the Tax Audit Report in which the Tax Auditor has mistakenly filled the due date of payment in column of actual date ...