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2009 (2) TMI 132 - HC - Income TaxDeduction u/s 80-I and 80-IA – Undisclosed income of the Block Period - provisions of Section 158BB of the Act have been amended by Finance Act, 2002 with retrospective effect from 01.07.1995 - assessee, a Limited Company, claimed deduction under Sections 80-I or 80-IA of the Act in relation to the ‘total undisclosed income’ of the block period. The said claim was rejected by the Assessing Officer and the matter carried before Tribunal. The Tribunal vide its impugned order dated 18.05.1988 allowed the relief – Held that in view of the amended provisions, which have been made retrospectively applicable, no fault can be found with the impugned order of the Tribunal holding that the assessee is entitled to claim deduction under Section 80-I or 80-IA of the Act. Assessee entitled to relief.
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