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TMI Blog2015 (10) TMI 1446X X X X Extracts X X X X X X X X Extracts X X X X ..... g out of order of CIT(A)-XIX, Kolkata in Appeal No. 164/CIT(A)-X/ITO,Wd-32(2)/Kol/11-12 dated 31.07.2012. Assessment was framed by ITO, Ward-32(2), Kolkata u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the "Act") for AY 2006-07 vide his order dated 30.11.2011. 2. The first issue in this appeal of revenue is against the order of CIT(A) deleting the disallowance of expenses on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ered by the decision of Hon'ble jurisdictional High Court in the case of CIT Vs. Virgin Creations in ITAT No.302 of 2011, GA No. 3200/2011 dated 23.11.2011, wherein even amendment made by the Finance Act 2010 in section 40(a)(ia) of the Act is held to be retrospective. Hon'ble High Court held as under: "We have heard Mr. Nizamuddin and gone through the impugned judgment and order. We have ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has retrospective application. Again, in the case reported in 82 ITR 570, the Supreme Court held that the provision, which has inserted the remedy to make the provision workable, requires to be treated with retrospective operation so that reasonable deduction can be given to the section as well. In view of the authoritative pronouncement of the Supreme Court, this court cannot decide otherwise. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /- 7/11/2005 10/04/2006 3 Contract Rs. 4,287/- 7/12/2005 10/04/2006 4 Contract Rs. 3,973/- 7/01/2006 10/04/2006 5 Contract Rs. 39,815/- 7/02/2006 12/04/2006 6 Contract Rs. 8,783/- 7/03/2006 12/04/2006 TOTAL Rs. 63,236/- The AO has disallowed the expenses in respect to the above six parties at Rs. 30,99,790/- and qua this assessee has already deducte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t the Ld. CIT(A)-XIX, Kolkata has not considered that section 40(a)(ia) of the Income Tax Act cannot be read in isolation or to the exclusion of section 194C of the Income Tax Act." 6. At the outset, Ld. Counsel for the assessee stated that he concedes this issue and hence the same is allowed in favour of revenue and against the assessee. This issue of revenue's appeal is allowed. 7. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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