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2016 (7) TMI 1246 - AT - Income TaxTDS u/s 194C - payment to transport contractors - amendment to Section 40(a)(ia) - retrospectivity - Held that:- Respectfully following the judgment of Vatika Township Private Limited (2014 (9) TMI 576 - SUPREME COURT), the amendment brought in by Finance (No.2) Act of 2014 in Section 40(a)(ia), the same is held to be retrospective in nature; therefore, the amount to be disallowed u/s 40(a)(ia) should be restricted to 30% of the impugned amount. Thus, the assessee’s appeal is partly allowed.
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