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TMI Blog2022 (9) TMI 490X X X X Extracts X X X X X X X X Extracts X X X X ..... ary amendment in Sections 36(1)(va) as well as 43B vide Finance Act, 2021 to this effect but also the CBDT has issued Memorandum of Explanation that the same applies w.e.f. 1.4.2021 only. It is further not an issue that the foregoing legislative amendments have proposed employers' contribution/disallowance u/s. 43B of the Act as against employee's contribution u/s. 36(1)(va) of the Act; re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... peal by the assessee is directed against the order of the National Faceless Appeal Centre (NFAC), Delhi dated 12.5.2022 for the asst. year 2019-20 with the following substantive grounds of appeal : - 1. That the Intimation Order dt. 04.01.2021 passed by the Learned ADIT, CPC and confirmed by Hon'ble FM, in so far it is prejudicial to the interest of the appellant is bad and erroneous, and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 4. That the Appeal may be allowed on the above ground and any other grounds that the Appellant may be permitted to adduce at the time of hearing. 3. The ld. AR of the assessee said that the ld. CIT(A) failed to appreciate that CBDT Circular No. 22/2015 cannot override the provisions of section 43B and the amendments made in this regard in the Finance Act 2021 is prospective in nature, con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ue date specified in the respective act then the assessee will get deduction as per sec. 36(1)(va) of the Act. The employee's contribution received is under sec. 36(1)(va) but not u/s. 43B of the Act. The amendment made by the Finance Act 2021 is only a clarificatory in nature, therefore, the order of the lower authorities should be restored. 5. We heard both sides and perused the entire ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the Act as against employee's contribution u/s. 36(1)(va) of the Act; respectively. The similar issue has been decided by the Hyderabad Bench in the case of M/s. Chiphercloud India Pvt. Ltd., in ITA No. 1367/Hyd/2018 and also keeping in mind the fact that the same has been clarified to be applicable only with prospective effect from 1.4.2021, we hold that the impugned disallowance is not s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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