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2019 (3) TMI 557 - AT - Income TaxMistake rectifiable u/s. 154 - payment was made to the contractor without deduction of tax at source and therefore, held that it was not an allowable expenditure in view of the provisions of section 40(a)(ia) - In view of the notice u/s 154 assessee submitted that the contractor company had shown the entire receipt in its turnover and had paid taxes as per I.T. Act therefore, in view of amendment to proviso to section 40(a)(ia), the assessee was not an assessee in default and provisions of section 40(a)(ia) were not applicable - HELD THAT:- The proviso to section 40(a)(ia) has been held to be effective retrospectively and therefore, the findings of the Assessing Officer that it is to be held prospective from 01/04/2013 is not correct and therefore, also the disallowance was not warranted. Moreover, I find that the assessee has raised various arguments, such as not debiting the expenditure in the profit & loss account and taking the same in the stock figure and also nothing was payable as on 31/03/2012. These all are debatable issues for which the rectification u/s 154 cannot be allowed
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