https://www.taxtmi.com/caselaws?id=369164 Section 40(a)(ia) disallowance was considered in light of the second proviso to that provision and the first proviso to Section 201(1) of the Income-tax Act, 1961. The assessee produced additional evidence that the resident payee had disclosed the receipts in its profit and loss account and obtained the requisite certificate under Section 201(1). The Court reiterated its earlier view that both provisos are curative and operate retrospectively from 01.04.2005, and that where the statutory conditions are satisfied the assessee is not treated as in default for disallowance purposes. The matter was remanded to the Assessing Officer for fresh decision after considering the additional evidence. en-us Mon, 17 Sep 2018 00:00:00 +0530 Sat, 20 Oct 2018 12:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369164 Section 40(a)(ia) disallowance was considered in light of the second proviso to that provision and the first proviso to Section 201(1) of the Income-tax Act, 1961. The assessee produced additional evidence that the resident payee had disclosed the receipts in its profit and loss account and obtained the requisite certificate under Section 201(1). The Court reiterated its earlier view that both provisos are curative and operate retrospectively from 01.04.2005, and that where the statutory conditions are satisfied the assessee is not treated as in default for disallowance purposes. The matter was remanded to the Assessing Officer for fresh decision after considering the additional evidence. Case-Laws Income Tax Mon, 17 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369164