Held that the relevant date to be considered for the purpose of section 36(1)(va) of the Act was the date of deposit of cheque in the bank, and not the date of clearance of the cheque. Allowable as deduction. (AY. 2014-15)
Pearey Lal and Sons (E. P.) Pvt. Ltd. v. ACIT (2021) 90 ITR 96 (SN) (Delhi)(Trib)
S. 36(1)(va) : Any sum received from employees-Cheque deposited before due date-Cheque cleared after due date-Relevant date is date of deposit of cheque-Allowable deduction.