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2017 (5) TMI 301 - GUJARAT HIGH COURTDisallowance made under section 40(a)(ia) - retrospectivity - effect of amendment to section 40(a)(ia) - Held that:- The issue involved in the present appeal is squarely covered against the revenue and in favour of the assessee in light of the decision of the Division Bench of this Court in the case of Commissioner of Income Tax, Ahmedabad Versus Omprakash R. Chaudhary [2015 (2) TMI 150 - GUJARAT HIGH COURT] by which the view has been taken that the amendment made in section 40 (a)(ia) of the Income Tax Act, 1961 by Finance Act 2010 is retrospective in operation and having effect from 1st April 2005 i.e. from the date of insertion of Section 40 (a)(ia) of the Act. It is reported that decision of the Division Bench of this court in the case of Omprakash R. Chaudhary (supra) has been approved by the Hon'ble Supreme Court subsequently. In view of the above, no error has been committed by the learned tribunal in deleting the disallowance made by the A.O. made u/s. 40(a)(ia) of the Act. - Decided in favour of assessee.
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