https://www.taxtmi.com/caselaws?id=372614 The Tribunal allowed the appeal, ruling that no disallowance of interest under section 40(a)(ia) of the Income Tax Act, 1961 was warranted. The Tribunal held that the payee had accounted for the interest as income, paid taxes on it, and the second proviso to section 40(a)(ia) had retrospective effect from 01.04.2005, based on the decision of the Delhi High Court. Therefore, the Tribunal concluded that the amendment was declaratory and curative, and no disallowance was required. en-us Thu, 01 Nov 2018 00:00:00 +0530 Wed, 26 Dec 2018 11:00:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372614 The Tribunal allowed the appeal, ruling that no disallowance of interest under section 40(a)(ia) of the Income Tax Act, 1961 was warranted. The Tribunal held that the payee had accounted for the interest as income, paid taxes on it, and the second proviso to section 40(a)(ia) had retrospective effect from 01.04.2005, based on the decision of the Delhi High Court. Therefore, the Tribunal concluded that the amendment was declaratory and curative, and no disallowance was required. Case-Laws Income Tax Thu, 01 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372614