https://www.taxtmi.com/caselaws?id=275844 The High Court ruled in favor of the assessee, dismissing the revenue's appeal. The Court held that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961, which deals with TDS deductions on job work payments, should be applied retrospectively. The legal fiction created by the proviso deems tax deduction on the date of the payee's income tax return filing, aiming to prevent undue hardships for the assessee. The judgment emphasized the curative nature of the proviso and the legislative intent to protect the assessee from unintended consequences, ultimately safeguarding them from being deemed defaulters. en-us Thu, 05 Jul 2018 00:00:00 +0530 Mon, 10 Dec 2018 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=275844 The High Court ruled in favor of the assessee, dismissing the revenue's appeal. The Court held that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961, which deals with TDS deductions on job work payments, should be applied retrospectively. The legal fiction created by the proviso deems tax deduction on the date of the payee's income tax return filing, aiming to prevent undue hardships for the assessee. The judgment emphasized the curative nature of the proviso and the legislative intent to protect the assessee from unintended consequences, ultimately safeguarding them from being deemed defaulters. Case-Laws Income Tax Thu, 05 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=275844