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2011 (9) TMI 281 - PUNJAB AND HARYANA HIGH COURTDeduction u/s 80P - Cooperative society - Rectification of order - The point for consideration in this appeal is as to whether the order of the Tribunal dated 23.9.1998 could be rectified in view of retrospective amendment made by the Income Tax (Second Amendment) Act, 1998 effective from 1.4.1968. - Held that:- The Tribunal while rejecting the contention of the assessee, following the decision of the Apex Court in the case of J.M. Bhatia AAC and others v. J.M. Shah (1985 (9) TMI 4 - SUPREME Court), held that the order dated 23.9.1998 could be rectified as there was mistake of law which was apparent on the record. - Further in view of full bench decision in Commissioner of Income Tax v. Smt. Aruna Luthra (2001 (8) TMI 84 - PUNJAB AND HARYANA High Court) the order of ITAT sustained - decided in favor of revenue.
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