Disallowance u/s 40(a)(ia)

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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

CA PARAS BAFNA (Expert)
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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.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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).

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