2019 (4) TMI 1889

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.....Varkey, JM This appeal filed by the assessee against the order of Ld. CIT(A)-13, Kolkata dated 16.08.2018 for AY 2006-07. 2. The main grievance of the assessee in this appeal is against the action of Ld. CIT(A) in confirming the action of the AO in disallowing a sum of Rs. 8,96,450/- u/s. 40(a)(ia) of the Income-tax Act, 1961 (hereinafter referred to as the "Act").   3. At the outse....

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....mendment is only w.e.f. 01.04.2015 and can be only prospective and, therefore, the disallowance should be sustained. 5. Having heard the rival submissions and gone through the facts and circumstances of the case it is noted that pursuant to the Tribunal's direction the AO after examining the veracity of the vouchers submitted by the assessee against the payments made to various persons found ou....