https://www.taxtmi.com/caselaws?id=308059 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s decision on the admissibility of evidence, disallowance under section 40(a)(ia), and the applicability of the second proviso to section 40(a)(ia. The additional evidence admitted revealed that the disallowance under section 40(a)(ia) was unjustified due to payments to an exempt entity. The retrospective applicability of the second proviso to section 40(a)(ia) was cited to support the deletion of the disallowance, especially after the completion of assessment of the relevant entity. en-us Wed, 25 Oct 2017 00:00:00 +0530 Sat, 27 May 2023 09:34:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=308059 The ITAT dismissed the revenue's appeal, upholding the CIT(A)'s decision on the admissibility of evidence, disallowance under section 40(a)(ia), and the applicability of the second proviso to section 40(a)(ia. The additional evidence admitted revealed that the disallowance under section 40(a)(ia) was unjustified due to payments to an exempt entity. The retrospective applicability of the second proviso to section 40(a)(ia) was cited to support the deletion of the disallowance, especially after the completion of assessment of the relevant entity. Case-Laws Income Tax Wed, 25 Oct 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=308059