Section 40(a)(ia) : 2 blows to Special Bench Merilyn Shipping Decision


That a Vishakhapatnam Special Bench Tax Tribunal  decision in case of Marilyn Shipping company in which it was held it was held  that s. 40(a)(ia) had no application to amounts that were already “paid” during the year but it was confined to amounts remaining “payable” as at the end of the year had created flutter among majority of tax practitioner , maybe be positively, and among revenue official very negatively. Readers were informed about the said special bench decision in  a posting titled  Disallowance u/s 40(a )(ia) : 2 Great Reliefs from Courts

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