https://www.taxtmi.com/caselaws?id=431457 The Tribunal partially allowed the appellant's appeal, restricting the disallowance under Section 40(a)(ia) of the Income Tax Act retrospectively. The disallowance of Rs.2,85,500 was limited to 30%, granting relief of Rs.1,99,850 to the appellant for Assessment Year 2006-07. The decision highlighted the importance of fair hearing opportunities and referenced previous decisions to support the retrospective application of the clarificatory amendment. en-us Mon, 31 Oct 2022 00:00:00 +0530 Tue, 13 Dec 2022 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431457 The Tribunal partially allowed the appellant's appeal, restricting the disallowance under Section 40(a)(ia) of the Income Tax Act retrospectively. The disallowance of Rs.2,85,500 was limited to 30%, granting relief of Rs.1,99,850 to the appellant for Assessment Year 2006-07. The decision highlighted the importance of fair hearing opportunities and referenced previous decisions to support the retrospective application of the clarificatory amendment. Case-Laws Income Tax Mon, 31 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431457