Mumbai ITAT: Amendment to disallowance u/s 40(a)(ia) by Finance Act 2010 Retrospective

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  Please read Mumbai Special Bench: Amendment to section 40(a)(ia)  Not retrospective .  Mumbai ITAT in case  of Bansal Parivahan India (P) Ltd. vs ITO  [137 TTJ 319]  order dated 22 September 2010 ruled that the amendment by Finance Act in 40(a ) (ia) of the I T Act  is retrospective.The effect of the ruling is that for any…

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