Thursday, April 1, 2021

Retrospective effect to amendments can’t be given to make disallowances for non-deduction of TDS

INCOME TAX : No disallowance under section 40(a)(ia) was to be made on account of leased line charges paid by assessee before insertion of amendment covering leased charges within definition of royalty by Finance Act, 2012 though with retrospective effect from 1-6-1976

from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000197856/retrospective-effect-to-amendments-can’t-be-given-to-make-disallowances-for-non-deduction-of-tds.aspx

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

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