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2010 (12) TMI 370 - PUNJAB AND HARYANA HIGH COURTDisallowance - whether the omission of second proviso to Section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 w.e.f. 1.4.2004, would have retrospective operation - Hon'ble Supreme Court in Commissioner of Income Tax v. Alom Extrusions Ltd. (2009 -TMI - 35073 - SUPREME COURT) has held that the omission of the second proviso to Section 43B of the Act, by the Finance Act, 2003 operated retrospectively with effect from April 1, 1988 and not prospectively from April 1, 2004 as the amendment was to remove the difficulties which were there in the existing provision of Section 43B of the Act - Decided in the favour of assessee
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