Assessee Can't Be Expected To Deduct TDS From Payments Which Became Taxable Owing To Retrospective Amendment: Bombay High Court

The Bombay High Court ruled that the retrospective amendment imposing TDS on payments made to residents without PAN is valid, clarifying that the liability to deduct TDS exists even for payments made before the amendment's enactment. The court emphasized the legislative intent to plug revenue leakage and ensure compliance with tax laws. This decision underscores the importance of adhering to updated tax regulations to avoid penalties and legal disputes.