https://www.taxtmi.com/caselaws?id=285870 The Tribunal directed the AO to restrict the disallowance to 30% of the actual expenses claimed by the assessee in the profit and loss account, following the retrospective application of the amendment to Section 40(a)(ia) by the Finance Act, 2014. The appeal was partly allowed, providing relief to the assessee from the 100% disallowance initially imposed. en-us Tue, 26 Nov 2019 00:00:00 +0530 Fri, 31 Jan 2020 07:47:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285870 The Tribunal directed the AO to restrict the disallowance to 30% of the actual expenses claimed by the assessee in the profit and loss account, following the retrospective application of the amendment to Section 40(a)(ia) by the Finance Act, 2014. The appeal was partly allowed, providing relief to the assessee from the 100% disallowance initially imposed. Case-Laws Income Tax Tue, 26 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285870