2019 (8) TMI 851

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....ORDER: (per SK,J) This appeal by the Revenue under Section 260A of the Income Tax Act, 1961, in relation to the Assessment Year 2005-06, raises the following substantial questions of law for consideration: '6.1 Whether on the facts and circumstances of the case and in law, the ITAT was correct in holding that the assessment order was not erroneous or prejudicial to the interests of revenue,....

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.... u/s. 40 (a) (ia) of the I.T. Act by following the decision of the Hon'ble High Court in the case of Indwell Constructions (232 ITR 776) without appreciating the fact that the said decision was rendered before incorporating the provisions of section 40 (A) (ia) of the Act W.e.f. 01.04.2005? 6.5 Whether on the facts and circumstances of the case and in law, the ITAT was correct and justified in ....

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....ia) were made as applicable to all the assesses irrespective of method of determination of profit?' 2. Insofar as the issue of disallowance under Section 40 (a) (ia) of the Act of 1961 is concerned, a Division Bench of the High Court for the State of Telangana and the State of Andhra Pradesh, comprising the then Hon'ble The Chief Justice and one of us (SK,J), had occasion to consider the issue i....