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2019 (1) TMI 640 - AT - Income TaxAddition u/s 40(a)(ia) on account of interest paid to Tata Capital Ltd. - TDS liabilities - scope of amendment to section 40(a)(ia) - Held that:- DR relied on Thomas George Muthoot Vs. CIT [2015 (7) TMI 810 - KERALA HIGH COURT] in which, decided that amendment to section 40(a)(ia) is prospective in nature, while, the assessee has relied on the decision in the case of CIT Vs. Ansal Land Mark Township (P) Ltd. [2015 (9) TMI 79 - DELHI HIGH COURT] in which, the Hon’ble Court adjudicated that the amendment is a curative in nature and it has effect of retrospective. By relying on the judgment in the case of CIT Vs. M/s Vegetable Products Ltd [1973 (1) TMI 1 - SUPREME COURT] in which adjudicated that the amendment is a curative in nature and it has effect of retrospective. We hold that where two views are possible on an issue, the view, which is favourable to the assessee has to be preferred. We direct the AO to delete the addition made u/s 40(a)(ia) on account of interest paid to Tata Capital Ltd. - Decided in favour of assessee.
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