Employees’ contribution to PF paid beyond due date under PF Act but within due date under section 139(1) was allowable in view of second proviso to section 43B

                Assessee claimed deduction of employees’ contribution to PF. AO disallowed deduction on account of payment beyond due date under PF Act. Assessee’s case was that payment was made within due date under section 139(1).

Held: No disallowance could be made in view of  amendment to second proviso to section 43B as the same introduced by Finance Act, 2003, was curative in nature and required to be applied retrospectively.

Refer below case

vijay_shree_43B_employees_contrib