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2017 (2) TMI 583 - AT - Income TaxSection 40(a)(ia) disallowance - assessee’s failure in not remitting the TDS deducted as per the scheme of the Act - retrospectivity - Held that:- We find that the issue as to whether TDS deducted by an assessee and remitted before the end of the relevant previous year or paid before the due date of filing of return is no more res integra since hon’ble Calcutta high court in Virgin Creations case (2011 (11) TMI 348 - CALCUTTA HIGH COURT) has already settled the law that amendment to Section 40(a)(ia) made by the Finance Act, 2010 is retrospectively applicable w.e.f. 01.04.2005 thereby impliedly reversing this tribunal’s special bench decision in Bharti Shipyard Ltd. vs. DCIT (2011 (9) TMI 258 - ITAT MUMBAI ). DR fails to dispute this legal position. We thus find no reason to interfere with the CIT(A)’s findings deleting Section 40(a)(ia) disallowance in question. The Revenue’s sole substantive ground as well as its main appeal fails.
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