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2019 (7) TMI 1098 - HC - Income TaxReopening of assessment u/s 147 - reopening on the basis of retrospective insertion of clause (i) to explanation 1 to Section 115-JB of the Act whereby provisions for diminution in the value of any asset is required to be added to the book profit for the purposes of Section 115-JB - following Jurisdiction High Court CIT(A) held that retrospective amendment in law does not give to any failure to disclose material facts as contemplated in the first proviso - HELD THAT:- The question of law as proposed by the Revenue is squarely covered by the two decisions which have been referred to by the Tribunal in its impugned order. The principle of law as explained in the two decisions of this Court is that the retrospective amendment to any provision cannot be a ground for making re-assessment. Thus, the proposed question is squarely covered by the decision of this Court in the case of Vodafone West Ltd. Vs. Assistant Commissioner of Income Tax [ 2013 (7) TMI 536 - GUJARAT HIGH COURT ] and Sadbhav Engineering Ltd. [ 2014 (6) TMI 296 - GUJARAT HIGH COURT ].
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