2008 (8) TMI 348

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Sagar Hospital has to be allowed as deduction in view of the exemption granted to Vidya Sagar Hospital for three consecutive assessment years. Considering the exemption order granted to Vidya Sagar Hospital, the authorities have come to the conclusion that the exemption was not operating from a particular date and the same was effective for all the full assessment year - there is no specific date .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... also be entitled to claim the deduction as the notification would not only act prospectively but also retrospectively ? (2) Whether the appellate authorities were correct in holding that a provision for premium on redemption of debentures of Rs. 4,82,143 is an allowable deduction by following the view expressed, in the earlier years which has not been accepted and appeal are pending and that of .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... clusion that the exemption was not operating from a particular date and the same was effective for all the full assessment year. 4. In view of the same, we are also of the opinion that there is no specific date showing the validity of exemption granted to hospital. The authorities were justified in granting relief to the assessee. Accordingly, the said point is answered against the Revenue and .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X