Case Law Details
Kanubhai Ramjibhai Makwana Vs. ITO- ITAT Ahemdabad
Brief:- Business dis allowance under section 40(a)(ia) – Payment to resident without deduction of tax-Amendment in section 40(a)(ia) by the Finance Act, 2010-Nature of amendment-Amendment made by the Finance Act, 2010 in section 40(a)(ia) is of clarificatory nature and hence would apply retrospectively from 1-4-2005.
ORDER
This appeal by the assessee is arising out of the order of Commissioner (Appeals)-IV, Baroda in appeal No.CAB/IV-A-256/07-08 dated 29-08-2008. The assessment was framed by Income Tax Officer Ward-1, Anand under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as `the Act’) vide his order dated 24-12-2007 for assessment year 2005-06.
2. The first issue in this appeal of assessee is against the order of Commissioner (Appeals) confirming the addition made by assessing officer by invoking the provisions of section 40A(2)(b) of the Act. For this, assessee has raised the following ground No.1:-
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