For the AY. 2005-06, the AO disallowed a sum of Rs. 55,17,037 in terms of s 40(a)(ia) of the Act. The assessee filed an appeal before the CIT(A) who held that the amendment brought about by the Finance Act, 2010 in S. 40(a)(ia) of the Act was retrospective in nature and deleted the addition. The Tribunal held that the provisions of S.\u00a0 40(a)(ia) of the Act as amended by the Finance Act, 2010 were not retrospective in nature and reversed the order of the CIT (A)\u00a0 The Tribunal also dismissed the miscellaneous petition filed by the assessee. On appeal the\u00a0 court held that the Tribunal was wrong in holding that the amendment made by the Finance Act, 2010 in the provisions of S.\u00a0 40(a)(ia) of the\u00a0 Act was not retrospective in operation. Followed CIT v .Calcutta Export Co. (2018) 404\u00a0 ITR\u00a0 654 (SC). ( AY.2005-06)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 40(a)(ia): Amounts not deductible – Deduction at source –
\nFailure to pay tax deducted at source- Amendment by Finance Act, 2010 allowing deduction of payment where tax deducted in subsequent year, or during previous year but paid after due date for filing return \u2014 Amendment retrospective- Disallowance is held to be not valid [ S.139(1) ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-12621","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3hz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12621","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=12621"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12621\/revisions"}],"predecessor-version":[{"id":12622,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/12621\/revisions\/12622"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=12621"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=12621"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=12621"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}