https://www.taxtmi.com/caselaws?id=284414 The appeal involved the addition of customer's advances and disallowance of expenditure under section 40(a)(ia) for A.Y. 2011-12. The CIT(A) upheld the Assessing Officer's addition of customer's advances but deleted the disallowance of expenditure. The tribunal ruled in favor of the appellant, holding that the amendment to section 40(a)(ia) applies retrospectively, directing the Assessing Officer to restrict the disallowance to 30% only. The appeal was allowed for statistical purposes, with the order pronounced on 20.07.2018. en-us Fri, 20 Jul 2018 00:00:00 +0530 Wed, 15 Jan 2020 17:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284414 The appeal involved the addition of customer's advances and disallowance of expenditure under section 40(a)(ia) for A.Y. 2011-12. The CIT(A) upheld the Assessing Officer's addition of customer's advances but deleted the disallowance of expenditure. The tribunal ruled in favor of the appellant, holding that the amendment to section 40(a)(ia) applies retrospectively, directing the Assessing Officer to restrict the disallowance to 30% only. The appeal was allowed for statistical purposes, with the order pronounced on 20.07.2018. Case-Laws Income Tax Fri, 20 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284414