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2021 (8) TMI 176 - HC - Income TaxReopening of the assessment - MAT computation u/s 115JB - Scope of amendment - HELD THAT:- The amended provision was amended retrospectively and is deemed to have been in force all along during the period commencing from 1st April of 2017.Though the provisions stands amended with retrospective effect, it cannot be said that the petitioner had failed true and full disclosure of all material facts that were required for completing the assessment. The petitioner has taken a bonafide stand that the amount debited in Profit and Loss Account towards provisions of bad and doubtful debts were not be included under Section 115JB of the IT Act. This was scrutinized and the assessment order came to be passed on 10.12.2008. Even if, the amended provision as it stands amended, vide Finance Act, 2009 in the Income Tax Act, 1961, it cannot be said that there was a failure on the part of the petitioner to truly and fully disclose all material facts/informations required for assessment. The writ petition filed by the petitioner therefore deserves to be allowed and is accordingly allowed.
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