Tribunal held that when the payee in its return disclosing payment received, no disallowance can be made for failure to deduct tax at source .Second proviso to S.40(a) of the Act is to be read as applicable with retrospective effect.( AY.2010-11, 2011-12)
CIT v. Ahmedabad Strips P. Ltd. (2018) 64 ITR 683 (Ahd) (Trib)
S.40(a)(ia):Amounts not deductible – Deduction at source – Payee in its return disclosing payment received, no disallowance can be made for failure to deduct tax at source – Second proviso to S.40(a) of the Act is to be read as applicable with retrospective effect.