https://www.taxtmi.com/caselaws?id=325738 The Tribunal allowed the assessee's appeal against the disallowance of interest under section 40(a)(ia) of the Act for A.Y 2009-10. The Tribunal held that the proviso to section 40(a)(ia) is declaratory and curative with retrospective effect from 1.4.2005. As the payee included the amount in income and paid taxes, the disallowance was deemed unsustainable. The decision emphasized the significance of legal interpretations and the impact of curative amendments in tax laws on assessment proceedings. en-us Fri, 19 Feb 2016 00:00:00 +0530 Mon, 28 Mar 2016 07:02:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325738 The Tribunal allowed the assessee's appeal against the disallowance of interest under section 40(a)(ia) of the Act for A.Y 2009-10. The Tribunal held that the proviso to section 40(a)(ia) is declaratory and curative with retrospective effect from 1.4.2005. As the payee included the amount in income and paid taxes, the disallowance was deemed unsustainable. The decision emphasized the significance of legal interpretations and the impact of curative amendments in tax laws on assessment proceedings. Case-Laws Income Tax Fri, 19 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325738