2016 (1) TMI 1139 - HC - Income Tax

Refund of amounts made to the NPPA - Tribunal held that the refund of amounts made to the NPPA is an amount which is hit by explanation 1 to Section 37 of the Act? - Held that - As the explanation 1 to Section 37 of the Act was not in the statute book during the relevant Assessment Year. Registry is directed to communicate a copy of this order to the Tribunal. This would enable the Tribunal to keep the papers and proceedings relating to the present appeal available, to be produced when sought for by the Court.

Summary

The High Court of Bombay heard an appeal related to the Assessment Year 1999-2000. The main question was whether the refund made to the NPPA was affected by explanation 1 to Section 37 of the Act. The Tribunal's decision in a previous case was considered not directly applicable due to the absence of the explanation in the relevant year. The Registry was directed to inform the Tribunal about the order for future reference. The case was to be heard along with another Income Tax Appeal.