Court Limits Tax Disallowance to 30% u/s 40(a)(ia) for Non-Deduction of TDS; Examines Retrospective Statute Application.

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....Disallowance u/s.40(a)(ia) - Failure to deduct TDS - Scope of amendment - if a statute is curative of the previous law, retrospective operation is generally intended. - AO directed to restrict the 100% disallowance confirmed by the CIT(A) to the extent of 30% only taking into account the actual claim of the assessee in its profit and loss account. - AT....