Explanation inserted by Finance Act, 2022 to section 14A with effect from 1-4-2022 providing that provisions shall apply whether or not exempt income has accrued, arisen or received, is clarificatory in nature and thus, applicable retrospectively.  Parliament has brought in Explanation to section 14A to remove prevailing doubts about interpretation of provisions of section 14A and to overcome interpretation given by various High Courts regarding applicability of provisions of section 14A and to make intention of legislation clear and to make it free from any misinterpretation.  (AY. 2009-10, 2012-13,2014-15)