Second proviso to section 40(a)(ia) is declaratory and as retrospective effect from 01.04.2005

PCIT Vs Shivaai Industries Pvt. Ltd (Delhi High Court)

Delhi High Court held that the insertion of second proviso to Section 40(a)(ia) of the Act is declaratory and curative in nature and has retrospective effect from 1st April 2005. Petition dismissed in view that appeal doesn’t bear any substantial question of law.

Facts- Via the instant appeal, the appellant/revenue seeks to assail the order dated 27.04.2023 passed by the Income Tax Appellate Tribunal. Notably, Tribun

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