https://www.taxtmi.com/caselaws?id=207063 ITAT MUMBAI - AT held that the Finance Act, 2010 amendment to section 40(a)(ia) w.e.f. 1-4-2010 is not retrospective to assessment year 2005-06. The tribunal found section 40(a)(ia) to be a composite provision-disallowance when TDS is not deposited timely and allowance in the year of deposit-and refused to read it as retrospectively remedial, noting consequential amendment to section 201(1) was not made retrospective. Consequently the disallowance of Rs. 50.12 lakhs under section 40(a)(ia) was sustained and the challenge by the assessee was rejected. en-us Fri, 09 Sep 2011 00:00:00 +0530 Wed, 20 Aug 2025 17:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207063 ITAT MUMBAI - AT held that the Finance Act, 2010 amendment to section 40(a)(ia) w.e.f. 1-4-2010 is not retrospective to assessment year 2005-06. The tribunal found section 40(a)(ia) to be a composite provision-disallowance when TDS is not deposited timely and allowance in the year of deposit-and refused to read it as retrospectively remedial, noting consequential amendment to section 201(1) was not made retrospective. Consequently the disallowance of Rs. 50.12 lakhs under section 40(a)(ia) was sustained and the challenge by the assessee was rejected. Case-Laws Income Tax Fri, 09 Sep 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207063