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2017 (5) TMI 1114 - ALLAHABAD HIGH COURTRevision u/s 263 - dis-allowance of transportation charges for non deduction of tds - effect of retrospective amendment - Held that:- The amendment brought about in Section 40(a)(ia) is not only has limited retrospectivity but complete retrospectivity and would be applicable to the assessment year 2009-10 also to which the instant case belongs. In view of the above, as the petitioner has deposited the tax deducted at source on 3.9.2009 before the expiry of the last date for the filing of the return under Section 139(i) of the Act i.e. 30.9.2009, he is entitle to the benefit of the above provision and the transportation charges of ₹ 10,34,600/- are allowable as deduction from the income for the purposes of computing income chargeable to tax under the head, "Profits and gains of business or profession" from income. Accordingly, the impugned order dated 15.3.2016 (Annexure-5) and the Assessment Order dated 31.12.2014 are quashed in so for they disallow the transportation charges to be deducted from the income of the petitioner for computing its taxable income. - Decided in favour of assessee.
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