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2017 (11) TMI 1827 - ITAT PUNETDS u/s 194A - disallowance u/s 40(a)(ia) - assessee paid interest on NBFCs without deduction of tds - scope of second proviso to Sec. 40(a)(ia)amended - retrospectivity - it is assessee’s contention that the amounts of interest paid by the assessee have been offered to tax by the respective recipients and as proof of the amount offered by the respective recipient to tax is also certified by their Chartered Accountants and the necessary C.A. Certificates - HELD THAT:- We find that the Co-ordinate Bench of Pune Tribunal in the case of Yamazaki Mazak [2016 (10) TMI 1038 - ITAT PUNE] after considering the decision of PRUDENTIAL LOGISTICS [2015 (2) TMI 847 - KERALA HIGH COURT] and Ansal Land Mark [2015 (9) TMI 79 - DELHI HIGH COURT] has held that the second proviso to Sec. 40(a)(ia) inserted by the Finance Act, 2012 is retrospective in nature. As before us assessee has placed reconciliation statements showing the amount of interest paid by the assessee and that are offered by the respective recipients of interest in their income and that there are certain difference which the assessee has not been able to reconcile. We therefore find force in the argument of Ld.A.R. that to the extent the amounts have been reconciled, the assessee be allowed the expenditure. There is no finding on this issue by the lower authorities. In such a situation, we are of the view that the matter be remanded back to AO to verify the contention of the assessee - Appeal of assessee allowed for statistical purposes.
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