Section 36(1)(va) – Amendment by Finance Act, 2021 applicable w.e.f. assessment year 2021-22

Jagmohan Singh Vs DCIT (ITAT Chandigarh)  In the instant case, it is not in dispute that employees’ contribution to ESI and PF collected by the assessee from its employees had been deposited well before the due date of filing of return of income u/s 139(1) of the Act. We find that the issue is squarely covered by the decisions of the Hon’ble Rajasthan High Court, Hon’ble Himachal Pradesh High Court as well as Hon’ble Punjab & Haryana High Court. We further note that though the Id. CIT(A) has not disputed the various decisions of Hon’ble High Courts including the deci...