Second Proviso to Sec 40(a)(ia) being not curative by nature does not have retrospective effect: HC

Brief of the case:

The Hon’ble Kerala HC in the case of Thomas George Muthoot vs. CIT held that the second proviso to sec 40(a)(ia) is not curative by nature , the same is an additional remedy to provide non-disallowance in certain tax deduction default cases. Thus, being not curative the second proviso does not have retrospective effect.

Facts of the case:

• The assessee is a partn

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