https://www.taxtmi.com/caselaws?id=438908 The Revenue's appeal against the deletion of addition of interest expenses under Section 40(a)(ia) of the Income Tax Act for Assessment Year 2012-13 was dismissed. The Appellate Tribunal upheld the order of the Commissioner of Income Tax (Appeals), ruling that no disallowance could be made if the payee included the amount in their tax return and paid due taxes. Citing the retrospective effect of the 2nd Proviso to Section 40(a)(ia) from 01.04.2005, the Tribunal found in favor of the assessee, leading to the dismissal of the Revenue's appeal. en-us Fri, 09 Jun 2023 00:00:00 +0530 Mon, 12 Jun 2023 08:44:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=438908 The Revenue's appeal against the deletion of addition of interest expenses under Section 40(a)(ia) of the Income Tax Act for Assessment Year 2012-13 was dismissed. The Appellate Tribunal upheld the order of the Commissioner of Income Tax (Appeals), ruling that no disallowance could be made if the payee included the amount in their tax return and paid due taxes. Citing the retrospective effect of the 2nd Proviso to Section 40(a)(ia) from 01.04.2005, the Tribunal found in favor of the assessee, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Fri, 09 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=438908