https://www.taxtmi.com/caselaws?id=436248 The Tribunal upheld the CIT(A)'s decision, affirming the AO's disallowance of Rs. 24,01,000/- under section 40(a)(ia) for non-deduction of TDS on CFS charges at Chennai Port by a Custom House Agent. The Tribunal ruled that the amended provisions of section 40(a)(ia) by the Finance Act, 2014, are prospective and not retrospective, applying only from assessment year 2015-16. The assessee's alternate plea under the second proviso to section 40(a)(ia) inserted by the Finance Act, 2019, was rejected for lack of evidence. Appeals for both assessment years were dismissed. en-us Wed, 15 Mar 2023 00:00:00 +0530 Sat, 08 Apr 2023 08:46:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436248 The Tribunal upheld the CIT(A)'s decision, affirming the AO's disallowance of Rs. 24,01,000/- under section 40(a)(ia) for non-deduction of TDS on CFS charges at Chennai Port by a Custom House Agent. The Tribunal ruled that the amended provisions of section 40(a)(ia) by the Finance Act, 2014, are prospective and not retrospective, applying only from assessment year 2015-16. The assessee's alternate plea under the second proviso to section 40(a)(ia) inserted by the Finance Act, 2019, was rejected for lack of evidence. Appeals for both assessment years were dismissed. Case-Laws Income Tax Wed, 15 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436248