https://www.taxtmi.com/caselaws?id=757321 Bombay HC ruled on disallowance under Section 40(a)(ia) regarding TDS provisions. The court held that the Tribunal's approach was fundamentally flawed in giving retrospective application to substantive provisions amended by Finance Act 2014. Following SC precedent in Shree Choudhary Transport Co., the court distinguished between curative amendments (Finance Act 2010) and substantive amendments (Finance Act 2014), holding that retrospective application of substantive provisions is impermissible. The assessee cannot escape disallowance rigour under substantive provisions. Question of law answered in favour of Revenue against assessee. en-us Wed, 03 Jul 2024 00:00:00 +0530 Wed, 21 Aug 2024 14:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757321 Bombay HC ruled on disallowance under Section 40(a)(ia) regarding TDS provisions. The court held that the Tribunal's approach was fundamentally flawed in giving retrospective application to substantive provisions amended by Finance Act 2014. Following SC precedent in Shree Choudhary Transport Co., the court distinguished between curative amendments (Finance Act 2010) and substantive amendments (Finance Act 2014), holding that retrospective application of substantive provisions is impermissible. The assessee cannot escape disallowance rigour under substantive provisions. Question of law answered in favour of Revenue against assessee. Case-Laws Income Tax Wed, 03 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757321