TMI Blog2010 (5) TMI 176X X X X Extracts X X X X X X X X Extracts X X X X ..... 3 operated retrospectively from 1.4.1988 - The Honble Supreme Court further held that before amendment of the 2nd proviso to Section 43 B of the Act, the assessee were entitled to deduction only if the contribution stood credited on or before the due date given in the Provident Fund Act which created further difficulties. On a representation made to the Finance Ministry, one more amendment was made by Finance Act No. 2003 which was to apply retrospectively w.e.f. 1.4.1988. The rationale of Hon'ble the Supreme Court is that when a proviso in a section is inserted to remedy unintended consequences and to make the section workable, the proviso which supplies an obvious omission therein is required to be read retrospectively in operation, parti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he case of Laksons Shoes Co.(P) Ltd. for the assessment year 2002-03. On further appeal by the Revenue, the Tribunal upheld the order of the CIT(A) by observing that payments have been made within the grace period, the additions made by the Assessing Officer have been rightly deleted by the CIT(A). The Tribunal further held that the decision of the CIT(A) was rightly based on the earlier decisions of the Tribunal. Feeling aggrieved, the Revenue has approached this Court by claiming that the following questions of law would arise which are based on the judgment of the Bombay High Court rendered in the case of CIT v. Pamwi Tissues Ltd. (2009) 313 ITR 137. "1.Whether on the facts and in the circumstances of the case, the Ld. ITAT was ri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so to Section 43 B of the Act, the assessee were entitled to deduction only if the contribution stood credited on or before the due date given in the Provident Fund Act which created further difficulties. On a representation made to the Finance Ministry, one more amendment was made by Finance Act No. 2003 which was to apply retrospectively w.e.f. 1.4.1988. The rationale of Hon'ble the Supreme Court is that when a proviso in a section is inserted to remedy unintended consequences and to make the section workable, the proviso which supplies an obvious omission therein is required to be read retrospectively in operation, particularly to give effect to the section as a whole. In order to achieve that object strict and literal construction shoul ..... X X X X Extracts X X X X X X X X Extracts X X X X
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