Section 40(a)(ia) of Income Tax Act is Declaratory and Retrospective: Delhi HC [Read Order]

Delhi HC - Income Tax Act - Income Tax Act is Declaratory and Retrospective - taxscan

The Delhi High Court held that  Section 40(a)(ia) of the Income Tax Act, 1961 is declaratory and retrospective and closed the petition in the absence of substantial question of law. The appellant/revenue challenged the order dated 27.04.2023 passed by the Income Tax Appellate Tribunal [“Tribunal”] passed in favour of the respondent/assessee, M/S Shivaai Industries Pvt…

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