https://www.taxtmi.com/caselaws?id=385965 The court held that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961, inserted by the Finance Act, 2012, is clarificatory and retrospective from April 1, 2005. It ruled that disallowance under Section 40(a)(ia) is not justified if the recipient has already paid their tax liability. The court decided in favor of the assessee, pending the outcome of a related case before the Supreme Court. en-us Fri, 23 Aug 2019 00:00:00 +0530 Wed, 18 Sep 2019 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=385965 The court held that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961, inserted by the Finance Act, 2012, is clarificatory and retrospective from April 1, 2005. It ruled that disallowance under Section 40(a)(ia) is not justified if the recipient has already paid their tax liability. The court decided in favor of the assessee, pending the outcome of a related case before the Supreme Court. Case-Laws Income Tax Fri, 23 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=385965