https://www.taxtmi.com/caselaws?id=333149 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the appeal and granting relief by considering the legislative change to Section 40(a)(ia) of the Income Tax Act, 1961. The Court emphasized that the assessee was entitled to seek rectification based on the statutory change and relevant judgments, rejecting the Revenue's concerns about double deduction. The Court affirmed the Tribunal's directions for withdrawal of benefits in later years if necessary, ultimately dismissing the Revenue's appeal. en-us Tue, 27 Sep 2016 00:00:00 +0530 Tue, 04 Oct 2016 13:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333149 The High Court upheld the Tribunal's decision in favor of the assessee, allowing the appeal and granting relief by considering the legislative change to Section 40(a)(ia) of the Income Tax Act, 1961. The Court emphasized that the assessee was entitled to seek rectification based on the statutory change and relevant judgments, rejecting the Revenue's concerns about double deduction. The Court affirmed the Tribunal's directions for withdrawal of benefits in later years if necessary, ultimately dismissing the Revenue's appeal. Case-Laws Income Tax Tue, 27 Sep 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333149