Section 40(a)(ia) of the Income-tax Act, 1961—Business disallowance— Amended provision of section 40(a)(ia) should be interpreted liberally and equitable and applies retrospectively from the date when section 40(a)(ia) was inserted i.e., with effect from the Assessment Year 2005-06 so that an assessee should not suffer unintended and deleterious consequences beyond what the object and purpose of the provision mandates. - CIT V/s ARCHEAN GRANITES (P.) LTD. - [2020] 273 TAXMAN 511 (MAD)