Disallowance of Payment for PF & ESI Employee Contributions Beyond Due Date (Section 36(1)(va))

Rishabh Metals and Chemicals Private Limited Vs DCIT (ITAT Mumbai) ITAT Mumbai held that payment on account of employees contribution towards PF and ESI after the due date of the respective acts is disallowable in terms of section 36(1)(va) of the Income Tax Act. Facts- The Assessee has challenged the disallowance of ₹.4,00,168/- being payment of Provident Fund and ESI, u/s.36(1)(va) of Income-tax Act, 1961. The Assessee in the return of income filed on 09.02.2021 had declared total income of ₹.2,04,98,240/-. The said return was processed online by CPC Bangalore and accordingly, adjustment...