Payment Made for Employees Contribution after Due Date cannot be Allowed as Deduction : ITAT Directs to Restrict Disallowance [Read Order]

Payment Made for Employees Contribution after Due Date cannot be Allowed as Deduction - ITAT Directs to Restrict Disallowance -

The Mumbai Bench of Income Tax Appellate Tribunal (ITAT) held that if the payment has been made with respect employees’ contribution after the due date of the Income Tax Act, 1961, the same has to be disallowed and cannot be allowed as deduction and therefore, adjustment has rightly been made and the Assessing Officer (AO)…

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