https://www.taxtmi.com/caselaws?id=332328 The second proviso to section 40(a)(ia) is declaratory and curative, and applies retrospectively from 1 April 2005. Where tax was deducted under section 194C instead of the alleged correct provision, the disallowance cannot survive if the payee has included the receipt in its profit and loss account and computed business income accordingly. The matter was therefore restored for limited factual verification of the payee's tax treatment of the receipt, and the disallowance would be deleted if that verification is satisfied. en-us Wed, 03 Aug 2016 00:00:00 +0530 Thu, 15 Sep 2016 09:19:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332328 The second proviso to section 40(a)(ia) is declaratory and curative, and applies retrospectively from 1 April 2005. Where tax was deducted under section 194C instead of the alleged correct provision, the disallowance cannot survive if the payee has included the receipt in its profit and loss account and computed business income accordingly. The matter was therefore restored for limited factual verification of the payee's tax treatment of the receipt, and the disallowance would be deleted if that verification is satisfied. Case-Laws Income Tax Wed, 03 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332328