https://www.taxtmi.com/caselaws?id=204831 The tribunal held that the second and third provisos to section 194C(3) did not have retrospective effect. As the assessee failed to deduct TDS for payments exceeding Rs. 50,000 before 1-6-2005, the disallowance of Rs. 46,70,365 under section 40(a)(ia) was justified. The tribunal allowed the revenue's appeal, reinstating the disallowance and setting aside the CIT(A)'s order. en-us Fri, 12 Mar 2010 00:00:00 +0530 Fri, 29 Apr 2016 14:26:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204831 The tribunal held that the second and third provisos to section 194C(3) did not have retrospective effect. As the assessee failed to deduct TDS for payments exceeding Rs. 50,000 before 1-6-2005, the disallowance of Rs. 46,70,365 under section 40(a)(ia) was justified. The tribunal allowed the revenue's appeal, reinstating the disallowance and setting aside the CIT(A)'s order. Case-Laws Income Tax Fri, 12 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204831