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2018 (11) TMI 1959 - ITAT JAIPURDisallowance u/s 40(a)(ia) - interest paid to the NBFC - as argued since the recipient of interest has included the said amount in the total income and filed the return of income, therefore, in view of the second proviso to section 40(a)(ia) of the IT Act no disallowance is called for - HELD THAT:- We note that an identical issue has been considered by the Coordinate Bench of this Tribunal in the case of ACIT vs. M/s. Vastuvedik Colonizers & Developers [2017 (3) TMI 483 - ITAT JAIPUR] the second proviso to section 40(a)(ia) is curative in nature and is applicable retrospectively. Having held that the benefit of second proviso is available to the assessee if the recipient of interest has already taken this amount in its total income and filed the return of income, we direct the AO to verify this fact and decide the issue in the light of the above observations and decisions. Appeal of the assessee is partly allowed for statistical purposes.
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