ORDER :

Abhay Ahuja, J.

1. This is an appeal relating to assessment year 2005-06 filed by the revenue under section 260A of the Income Tax Act, 1961 (“the Act”) seeking to challenge the order of the Tribunal dated 26th May, 2017 and proposing the following questions as substantial questions of law:-

“a. Whether on the facts and circumstances of the case and in law, the Hon’ble Tribunal was correct in holding that the assessee disclosed true and correct facts in the return of income whereas the facts related to further disallowance u/s 40(a)(ia) of the Income Tax Act, 1961 was not available in the return of income and therefore, there was failure on the part of the assessee within the meaning of proviso to section 147 of the Income Tax Act, 1961?

b. Whether on the facts and circumstances of the case and in law, the Hon’ble Tribunal was correct in holding that the disallowance u/s 40(a)(ia) of the Income Tax Act, 1961 cannot be made in assessment year under consideration i.e. A.Y. 2005-06 as the assessee paid TDS within the due date prescribed u/s 139(1) of the Income Tax Act, 1961 without appreciating that the amendment to section 40(a)(ia) of the Income Tax Act, 1961 by Finance Act, 20