https://www.taxtmi.com/caselaws?id=235842 The ITAT allowed the assessee's appeal regarding the disallowance under section 40(a)(ia) of the Income Tax Act, holding that the amendment by the Finance Act, 2010, applies retrospectively. The ITAT upheld the CIT (A)'s decisions on unexplained cash deposits and the net profit rate for the liquor business, finding them reasonable and consistent with Tribunal precedents. All department appeals were dismissed. en-us Fri, 31 May 2013 00:00:00 +0530 Tue, 31 Mar 2015 11:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=235842 The ITAT allowed the assessee's appeal regarding the disallowance under section 40(a)(ia) of the Income Tax Act, holding that the amendment by the Finance Act, 2010, applies retrospectively. The ITAT upheld the CIT (A)'s decisions on unexplained cash deposits and the net profit rate for the liquor business, finding them reasonable and consistent with Tribunal precedents. All department appeals were dismissed. Case-Laws Income Tax Fri, 31 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=235842