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2017 (5) TMI 784 - GUJARAT HIGH COURT

2017 (5) TMI 784 - GUJARAT HIGH COURT - TMI - Disallowance under Section 40 [a](ia) - retrospectivity - Held that:- This issue is now not res integra in view of the decision of the Division Bench of this Court in the case of Commissioner of Income Tax Vs. Omprakash R. Chaudhari and Others [2015 (2) TMI 150 - GUJARAT HIGH COURT] wherein specifically observed and held that the amendment to Section 40[a](ia) of the Income Tax Act by Finance Act, 2010 shall be made applicable retrospectively. - Deci .....

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ed Tribunal has dismissed the said Appeal preferred by the Revenue by holding that provision to Section 40 [a] (ia) of the Income-tax Act, 1961 by the Finance Act, 2010 shall be applicable retrospectively, the Revenue has preferred the present Tax Appeal with the following proposed question of law : Whether the ITAT has erred in law and on facts in deleting the disallowance of ₹ 1,63,14,603/- made under Section 40 [a](ia) of the Act. 2. At the outset, it is required to be noted and it is n .....

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