The amendments to section 14A introduced by the Finance Act, 2022 shall apply from assessment year 2022-23 and onwards, and shall not have retrospective effect. In view of this, the order of CIT(A) was upheld.(ITA No. 2137/Mum/2021; dated 03/08/2022) [AY. 2015-16]
DCIT v. Welspun Steel Ltd (Mum)(Trib) (UR)
S .14A : Disallowance of expenditure-Exempt income–Amendments to section 14A by Finance Act, 2022 is not retrospective effect. [R.8D]
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