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1999 (5) TMI 4 - SC ORDERIn view of the provision in s. 10(29A)(d) introduced in the Finance Act, 1999, the Tobacco Board's income becomes exempt for any assessment year w.e.f. April 1, 1975, or the previous year in which the Board was constituted. Hence, the assessments already made stand set aside by virtue of s. 10(29A)(d) with retrospective effect - appeal is allowed holding that there is no liability to income-tax as provided in s. 10(29A)(d) - appellant are entitled to refund consequent to retrospective amendment
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