Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2016 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (3) TMI 756 - HC - Income TaxRetrospectivity of amendment to the provisions of section 40(a)(ia) of the Act, by the Finance Act, 2010 - w.e.f. 01.04.2005 - Held that:- As decided in CIT Vs. Shri Santosh Kumar Shetty [2015 (8) TMI 232 - KARNATAKA HIGH COURT ] this question came up for consideration before the Gujarat High Court in the case of Commissioner of Income Tax, Ahmedabad IV Vs. Om Prakash R Chaudhary [2015 (2) TMI 150 - GUJARAT HIGH COURT] after referring to the judgments of Allied Motors (P.) Ltd. Vs. CIT [1997 (3) TMI 9 - SUPREME Court] and CIT Vs. Alom Extrusions Limited [2009 (11) TMI 27 - SUPREME COURT ] in giving retrospective operation to the said amendment notwithstanding that the parliament has expressly stated that it comes into effect from 01.04.2010. The said amendment is curative in nature. The tribunal committed an error in holding it as prospective. The substantial questions of law is answered in favour of the assessee and against the revenue.
|