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2016 (4) TMI 262 - HC - Income TaxAmendment to section 40(a)(ia) - retrospectivity or prospectivity - Held that:- The controversy involved in the present case stands concluded in favour of the assessee and against the revenue by the decision of this court in the case of Commissioner of Income Tax v. BMS Projects, (2014 (4) TMI 242 - GUJARAT HIGH COURT ) and Commissioner of Income Tax, Ahmedabad-IV v. Omprakash R Chaudhary [2015 (2) TMI 150 - GUJARAT HIGH COURT] wherein it has been held that the amendment to section 40(a)(ia) of the Income Tax Act, 1961 by the Finance Act, 2010 has retrospective effect.
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