Sections 43B & 40A Income Tax Act | Which Provision Prevails When Both Commence With Non-Obstante Clause? Madras High Court Clarifies

Madras High Court explained which provision prevails when Sections 43B and 40A of the Income Tax Act both commence with a non-obstante clause. The Madras High Court provided a detailed explanation on the hierarchy of Sections 43B and 40A of the Income Tax Act, both of which begin with a non-obstante clause. This ruling clarifies which provision takes precedence in specific scenarios, providing guidance to tax practitioners and ensuring consistent application of tax laws.