Timely Payments to MSMEs: Decoding Section 43B(h) of Income Tax Act
The amendment to Section 43B of the Income Tax Act, 1961, through the Finance Act of 2023, brings forth crucial changes with the addition of clause...
![Relief to Adani Power Ltd:Â ITAT Allows Deduction u/s 43B of Income Tax Act as there is No Inconsistency in Amount Reported in Tax Audit and Amount Claimed in Return of Income [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/10/Adani-Power-Ltd-CESTAT-Refund-Service-Tax-paid-Service-tax-SEZ-Authorized-Operations-Taxscan.jpg "Relief to Adani Power Ltd:Â ITAT Allows Deduction u/s 43B of Income Tax Act as there is No Inconsistency in Amount Reported in Tax Audit and Amount Claimed in Return of Income [Read Order]")
![Additional Claim towards Customs Duty not allowable u/s 43B of Income Tax Act as Assessee not Obliged to Pay Customs Duty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/09/Additional-Claim-Claim-Customs-Duty-Income-Tax-Act-Pay-Customs-Duty-Assessee-ITAT-taxscan.jpg "Additional Claim towards Customs Duty not allowable u/s 43B of Income Tax Act as Assessee not Obliged to Pay Customs Duty: ITAT [Read Order]")
![Auditor Inadvertently Shown Wrong Disallowance Sum u/s 43B of Income Tax Act in Audit Report uploaded on Income Tax Portal: ITAT directs re-adjudication [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Auditor-Wrong-Disallowance-Sum-Income-Tax-Act-Audit-Report-income-tax-taxscan.jpg "Auditor Inadvertently Shown Wrong Disallowance Sum u/s 43B of Income Tax Act in Audit Report uploaded on Income Tax Portal: ITAT directs re-adjudication [Read Order]")
ITAT upholds Disallowance of Belated Payment of Employees’ Contribution to Provident Fund/ESIC [Read Order]
The Income Tax Appellate Tribunal (ITAT) Delhi Bench upheld the disallowance of belated payment of employees’ contribution to provident fund and ESIC. The assessee, S K G Traders P. Ltd. filed the...
![ITAT upholds Disallowance of Belated Payment of Employees’ Contribution to Provident Fund/ESIC [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/ITAT-disallowance-elated-Payment-Employees-Contribution-Provident-Fund-income-tax-taxscan.jpg "ITAT upholds Disallowance of Belated Payment of Employees’ Contribution to Provident Fund/ESIC [Read Order]")
Mistake Apparent from Record U/s 254(2) of Income Tax Act could be corrected by Tribunal: ITAT allows Rectification Application [Read Order]
The Raipur bench of the Income Tax Appellate Tribunal (ITAT) held that the mistakes that are apparent from the records under Section 254(2) of the Income Tax Act, 1961 can be rectified by the...
![Mistake Apparent from Record U/s 254(2) of Income Tax Act could be corrected by Tribunal: ITAT allows Rectification Application [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Mistake-Apparent-from-Record-Income-Tax-Act-could-be-corrected-by-Tribunal-ITAT-allows-Rectification-Application-TAXSCAN.jpg "Mistake Apparent from Record U/s 254(2) of Income Tax Act could be corrected by Tribunal: ITAT allows Rectification Application [Read Order]")
ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]
The Delhi Bench of Income Tax Appellate Tribunal (ITAT) has upheld the disallowance towards late deposit of employees’ contribution to Provident Fund or Employees State Insurance Corporation...
![ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/06/Late-Deposit-of-Employees-Contribution-ITAT-Employee-Contribution-TAXSCAN.jpg "ITAT upholds Disallowance Towards Late Deposit of Employees Contribution to PF/ESIC u/s 36(i)(va) of IT Act [Read Order]")
Deduction u/s 36(1)(va) not allowable When Assessee failed to Deposit Employee's Contribution to PF within due date: ITAT
The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that deduction under section 36(1)(va) of the Income Tax Act,1961 is not allowable when the assessee failed to deposit employee's...
Income Tax Deduction Not Available for Delayed Deposit of Contributions towards EPF/ESI Funds: Supreme Court [Read Judgment]
In a significant ruling, the Supreme Court held that income tax deduction under section 36(1)(va) and section 43B of the Income Tax Act, 1961shall not be available to the late deposit of...
![Income Tax Deduction Not Available for Delayed Deposit of Contributions towards EPF/ESI Funds: Supreme Court [Read Judgment]](https://www.taxscan.in/wp-content/uploads/2022/10/Income-Tax-Deduction-Deposit-EPF-ESI-Supreme-Court-taxscan.jpeg "Income Tax Deduction Not Available for Delayed Deposit of Contributions towards EPF/ESI Funds: Supreme Court [Read Judgment]")
RTA Registration Fee collected from Vehicle Buyers Taxable only If Dealer does not discharge Statutory Liabilities: ITAT [Read Order]
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently held that the provisions of section 43B of the Income Tax Act, 1961 will not apply to RTA Registration Fee collected by...
![RTA Registration Fee collected from Vehicle Buyers Taxable only If Dealer does not discharge Statutory Liabilities: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2020/05/WhatsApp-Image-2020-05-27-at-2.08.00-PM-2.jpeg "RTA Registration Fee collected from Vehicle Buyers Taxable only If Dealer does not discharge Statutory Liabilities: ITAT [Read Order]")
Benefit of Sec 36(1)(Va) of Income Tax Act is not Claimable on Failure to Deposit Employees' Contribution to PF Within Due Date: ITAT [Read Order]
The Kolkata Income Tax Appellate Tribunal ( ITAT ) has held that delayed deposit of amount collected towards employees' contribution to Provident Fund ( PF ) renders claim of deduction under section...
![Benefit of Sec 36(1)(Va) of Income Tax Act is not Claimable on Failure to Deposit Employees Contribution to PF Within Due Date: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/ITAT-Income-Tax-Act-Income-Tax-Appellate-Tribunal-Provident-Fund-Deposit-Employees-Contribution-taxscan.jpg "Benefit of Sec 36(1)(Va) of Income Tax Act is not Claimable on Failure to Deposit Employees Contribution to PF Within Due Date: ITAT [Read Order]")