Tax benefit: Amendment to 40(a)(ia) have retrospective application

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DEPUTY COMMISSIONER OF INCOME TAX VS. SARAF SERVICES (P) LTD.

ITAT, KOLKATA ‘D’ BENCH

Business expenditure—Disallowance under s. 40(a)(ia)—Retrospective applicability of the amendment made by the finance Act,2010—Amendment to s. 40(a)(ia) made by the Finance Act, 2010 with effect from 1st April, 2010 is retrospective from 1st April, 2005—Assessee paid the tax deducted at source on or before the due date for filling the return—Therefore,CIT(A) has rightly deleted the addition made by the AO

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