Explanation inserted in section 36(va) & 43B via finance act 2021 applicable from 01.04.2021

Stirred Creative Advertising Pvt. Ltd. Vs DCIT (ITAT Bangalore)

We find no merit in the argument of the ld.DR since the explanation as provided in Finance Act, 2021 prescribes that the amendment in both sec.36(va) as well as 43B by inserting corresponding explanation that although impugned PF comes in the form of provision and the same is applicable from 1/4/2021 onwards only.

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