PF Disallowance: Amendment in Sec 36(1)(Va) & 43B Applicable From AY 2020-21

Sandhu Automobiles Pvt. Ltd. Vs DCIT (ITAT Chandigarh) ITAT Chandigarh allows delay in PF payment. Assessee’s Rs. 4,62,844 paid before return filing. Amendments by Finance Act 2021 are prospective, not retrospective. It is seen that in the facts of the present case no doubt that there was a delay in the payments of PF in respect of employees contribution as far as time line set out by the relevant statute is concerned. However, it is not disputed that the payments of PF amounting to Rs. 4,62,844/- was paid well before the furnishing of the return. Accordingly, considering the position of...