Disallowance u/s 40(a)(ia)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
24 February 2012
in my case order u/s 143(3) is passed for A.Y.2009-10 .We had deducted Tds in February 2009 which was paid in June 2009. A.O. has disallowed this exp u/s 40(a)(ia). We have filed the appeal. whether amendment to section 40(a)made from 1-04-2010 is retrospective ? whether the decision of calcutta high court in CIT Vs. Virgin Creations dtd. 23 nov 2011 is applicable to my case if i come uder jurisdiction of Mumbai High court. kindly advise.
CA PARAS BAFNA
(Expert)
24 February 2012
Mumbai ITAT in case of Bharati Shipyard Ltd. vs DCIT [2011] 141 TTJ 129 Special Bench held that the amendments are prospective only.
25 February 2012
Provision of section 40(a)(ia) as amended by Finance Act, 2010 is clarificatory in nature and same is applicable with retrospective effect from 1-4-2005.
Citation:-
Kanubhai Ramjibhai Makwana Vs ITO [2011] 9 taxmann.com 55 (Ahd Tri).
Provision of section 40(a)(ia) as amended by Finance Act, 2010 is clarificatory in nature and same is applicable with retrospective effect from 1-4-2005.
Citation:-
Kanubhai Ramjibhai Makwana Vs ITO [2011] 9 taxmann.com 55 (Ahd Tri).
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