https://www.taxtmi.com/caselaws?id=359792 The SC held that the Finance Act, 2010 amendment to Section 40(a)(ia) of the IT Act should apply retrospectively from Assessment Year 2005-2006, when the original provision was inserted. Following the precedent in Allied Motors, the court ruled that curative amendments must be interpreted liberally and equitably to prevent unintended consequences for assessees. The amendment allows deduction for tax deducted and paid to the government. Since the assessee filed returns by the due date under Section 139, they were entitled to claim benefits of the retrospective amendment, ensuring the provision's object and purpose are fulfilled without causing deleterious effects beyond legislative intent. en-us Tue, 24 Apr 2018 00:00:00 +0530 Tue, 24 Mar 2026 11:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=359792 The SC held that the Finance Act, 2010 amendment to Section 40(a)(ia) of the IT Act should apply retrospectively from Assessment Year 2005-2006, when the original provision was inserted. Following the precedent in Allied Motors, the court ruled that curative amendments must be interpreted liberally and equitably to prevent unintended consequences for assessees. The amendment allows deduction for tax deducted and paid to the government. Since the assessee filed returns by the due date under Section 139, they were entitled to claim benefits of the retrospective amendment, ensuring the provision's object and purpose are fulfilled without causing deleterious effects beyond legislative intent. Case-Laws Income Tax Tue, 24 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=359792