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2016 (9) TMI 5 - ITAT KOLKATADisallowance u/s. 40(a)(ia) - assessee in default - Held that:- The assessee cannot be treated as a defaulter in view of the first proviso to section 201(1) r/w second proviso to section 40(a)(ia) of the Act if the concerned payee has taken into account the relevant sum for computing income in his return of income furnished u/s. 139 and has paid tax due on the income declared in such return. We, therefore, set aside the impugned order of ld. CIT(A) confirming the disallowance made by the AO u/s. 40(a)(ia) and restore the matter to the file of the AO for deciding the same afresh in the light of first proviso to section 201(1) r/w second proviso to section 40(a)(ia) which are held to be applicable to the year under consideration being retrospective in effect.
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