TMI Blog2017 (4) TMI 525X X X X Extracts X X X X X X X X Extracts X X X X ..... the same. Thus, the amendment to Section 40 (a)(ia) of the Act by Finance Act, 2010 is retrospective with effect from 1st April, 2005 as held by various High Courts. - Income Tax Appeal No. 1712 of 2014 - - - Dated:- 27-3-2017 - M. S. Sanklecha And S. C. Gupte, JJ. Mr. Charanjeet Chanderpal with Ms. Padma Divakar, Ms. Swapna Tejale and Ms. Namita Shirke, for the Appellant ORDER ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Income Tax (Appeals) [CIT(A)]to the effect that the amendment to Section 40(a) (ia) of the Act which was introduced by Finance Act, 2010, is retrospective in nature. This was by following the order dated 21st June, 2012 of its Coordinate Bench in ITO v/s. Mata Tulsomal Premchand (Pune Bench) and the decision of the Calcutta High Court in CIT v/s. Virgin Creations (Income Tax Appeal No. 302 of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ourts have taken a view that the provision being a machinery provision, retrospective effect being given to it, is appropriate. 5 Mr.Charanjeet Chanderpal, learned Counsel for the Appellant-Revenue is not able to point out any reason as to why the views of Calcutta, Gujarat, Delhi and Karnataka High Courts should be departed from. In the above view, as the various High Courts have already taken ..... X X X X Extracts X X X X X X X X Extracts X X X X
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