Amendment to S. 40(a)(ia) retrospective – ITAT Follows HC

The issue involved in the present appeal has now been decided by the Hon’ble Calcutta High Court in the case of CIT v. Virgin Creation in GA No. 3200/2011 dated 23-11-2011 against the Revenue. However, it is noteworthy that the Special Bench of ITAT Mumbai in the case of Please become a Premium member. If you are already a Premium member, login here to access the full content.