https://www.taxtmi.com/caselaws?id=414889 The Tribunal allowed both appeals of the assessee, directing the Assessing Officer to verify the evidences provided. The decision in ITA.No. 386/Mum/2016 (A.Y. 2013-14) was applied to ITA.No. 385/Mum/2016 (A.Y. 2013-14), stating that no disallowance under Section 40(a)(ia) is warranted if the payee has accounted for the interest income and filed the return. The Tribunal emphasized the retrospective effect of the second proviso to Section 40(a)(ia) from April 1, 2005, citing relevant case law to support its decision. en-us Wed, 02 Jun 2021 00:00:00 +0530 Fri, 19 Nov 2021 09:20:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414889 The Tribunal allowed both appeals of the assessee, directing the Assessing Officer to verify the evidences provided. The decision in ITA.No. 386/Mum/2016 (A.Y. 2013-14) was applied to ITA.No. 385/Mum/2016 (A.Y. 2013-14), stating that no disallowance under Section 40(a)(ia) is warranted if the payee has accounted for the interest income and filed the return. The Tribunal emphasized the retrospective effect of the second proviso to Section 40(a)(ia) from April 1, 2005, citing relevant case law to support its decision. Case-Laws Income Tax Wed, 02 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414889