https://www.taxtmi.com/article/detailed?id=9684 The proposed Explanation declares that section 43B "shall not apply and shall be deemed never to have been applied" for determining the "due date" under clause (va) of section 36(1). The author contends this phrasing risks retrospective nullification of 43B from the inception of the relevant provisions, creating inconsistency with the explanatory note's stated prospective effect and recommends redrafting to preserve the distinction between book crediting (recognition of liability) and actual payment and to avoid unintended retrospective effect and litigation. en-us Mon, 15 Feb 2021 13:01:38 +0530 Mon, 15 Feb 2021 13:01:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=9684 The proposed Explanation declares that section 43B "shall not apply and shall be deemed never to have been applied" for determining the "due date" under clause (va) of section 36(1). The author contends this phrasing risks retrospective nullification of 43B from the inception of the relevant provisions, creating inconsistency with the explanatory note's stated prospective effect and recommends redrafting to preserve the distinction between book crediting (recognition of liability) and actual payment and to avoid unintended retrospective effect and litigation. Articles Income Tax Mon, 15 Feb 2021 13:01:38 +0530 https://www.taxtmi.com/article/detailed?id=9684