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2015 (2) TMI 150 - HC - Income TaxDisallowances under section 40 [a](ia) - non deduction of TDS on labour contractors payment - due date for payment into the account of Central Government - ITAT deleted the addition relying on the amendment made in Section 40 [a](ia) thereby giving it retrospective effect - Retrospective v/s prospective - Held that:- Substantial question of law raised in these Appeals in favour of the assessee and against the Revenue by holding the amendment made in Section 40 (a)(ia) of the Income Tax Act, 1961 by the Finance Act 2010, as retrospective in operation, having effect from 1st April 2005 ie., from the date of insertion of Section 40 (a) (ia) of the Act. Resultantly, we hold that the Tribunal rightly decided the said issue following the Calcutta High Court’s decision in case of Virgin Creations [2011 (11) TMI 348 - CALCUTTA HIGH COURT ] by holding that the disallowance made under Section 40 (a)(ia) by the CIT [A] even for the amount for which the TDS had been deducted before 1st March 2005, holding amendment brought on 1st April 2010 as retrospective in nature. - Decided in favour of assessee.
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