https://www.taxtmi.com/caselaws?id=344218 The Tribunal allowed the appeal for statistical purposes, remitting the issue to the AO for verification of whether NBFCs included interest amounts in their taxable income. Emphasizing the retrospective applicability of the second proviso to Section 40(a)(ia), the judgment highlighted the importance of equitable interpretation to prevent unintended harsh consequences for the assessee. Compliance with Section 40(a)(ia) hinges on verifying auditor certificates, potentially avoiding disallowance if found correct. en-us Wed, 07 Jun 2017 00:00:00 +0530 Mon, 12 Jun 2017 08:55:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=344218 The Tribunal allowed the appeal for statistical purposes, remitting the issue to the AO for verification of whether NBFCs included interest amounts in their taxable income. Emphasizing the retrospective applicability of the second proviso to Section 40(a)(ia), the judgment highlighted the importance of equitable interpretation to prevent unintended harsh consequences for the assessee. Compliance with Section 40(a)(ia) hinges on verifying auditor certificates, potentially avoiding disallowance if found correct. Case-Laws Income Tax Wed, 07 Jun 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=344218