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2002 (8) TMI 70 - MADRAS HIGH COURTExemption to incomes of political parties - "Whether the Tribunal was correct in holding that the provisions of section 13A are not applicable to the assessee for the assessment years 1973-74, 1975-76, 1977-78 and 1978-79?" - There is nothing in the language or scheme of section 13A or in the scheme of the Income-tax Act, 1961 or the Finance Act, 1988, to indicate that Parliament intended to give retrospective operation to section 13A. - The Tribunal was right in holding that for these assessment years the assessee was not entitled to the benefit of section 13A. The question referred to us is therefore answered in favour of the Revenue and against the assessee.
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