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2010 (3) TMI 984 - HC - Income TaxExtract: .......) 261 ITA Page 721(Ker). The kerala high Court has held that explanation 5 to section 32 inserted by the Finance Act 2001 is prospective in nature and not retrospective. Therefore, the substantial questions of law framed by the revenue are to be answered against the revenue, following the aforesaid Judgment. 5. Accordingly, the appeal is dismissed.
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