Amendment brought out in Section 40(a)(ia) are clarificatory in nature and retrospective w.e.f 1st April 2005

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Kanubhai Ramjibhai Makwana v. ITO

Business disallowance under section 40(a)(ia) - Payment to resident without deduction of tax-Amendment in section 40(a)(ia) by the Finance Act, 2010-Nature of amendment-Amendment made by the Finance Act, 2010 in section 40(a)(ia) is of clarificatory nature and hence would apply retrospectively from 1-4-2005.