Amendment brought out in Section 40(a)(ia) are clarificatory and retrospective w.e.f 1st April 2005

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...