ITAT upheld disallowance of employee’s contribution to PF & ESI 

O Clock Software Private Limited Vs ACIT (ITAT Chennai) Introduction: The article delves into the case of O Clock Software Private Limited vs. ACIT, as heard by the Income Tax Appellate Tribunal (ITAT) in Chennai. The dispute revolves around the denial of a deduction under section 36(1)(va) of the Income Tax Act, 1961, concerning the delayed payment of Employee’s Provident Fund (PF) and Employee State Insurance (ESI) contributions for the assessment year 2020-21. Detailed Analysis: 1. Background: The assessee, O Clock Software Private Limited, filed its income tax return for the relevant...