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TMI Blog2019 (7) TMI 1435X X X X Extracts X X X X X X X X Extracts X X X X ..... BILLAIYA, ACCOUNTANT MEMBER: This appeal by the assessee is preferred against the order of the ld. CIT(A) - 6, New Delhi dated 26.10.2016 pertaining to A.Y 2013-14 . 2. The solitary grievance of the assessee is that the CIT(A) erred in confirming the addition of Rs. 1,64,120/- made u/s 40(a)(ia) of the Income-tax Act, 1961 [hereinafter referred to as 'the Act']. 3. Briefly stated, the f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sited before filing the return of income. Therefore, the facts are squarely covered by the amendment brought to section 40(a)(ia) of the Act. However, this claim of the assessee was discarded by the Assessing Officer who was of the firm belief that the said amendment is w.e.f. 01.04.2015 and therefore, not applicable to the subject Assessment year. 5. The assessee carried the matter before the CI ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... retrospective in nature to apply to the present facts and circumstances of the case." 8. After considering various judicial decisions, the Supreme Court held as under: "Hence, in light of the forgoing discussion and the binding effect of the judgment given in Allied Moters (supra), we are of the view that the amended provision of Sec 40(a)(ia) of the IT Act should be interpreted liberally and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e forgoing discussion, we are of the view that judgment of the High Court does not call for any interference and, hence, the appeals are accordingly dismissed. In view of the above, all the connecting appeals, interlocutory applications, if any, transferred cases as well as diary numbers are disposed off accordingly. Parties to bear cost on their own." 9. Respectfully following the decision of th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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