2010 (12) TMI 370

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... COURT) has held that the omission of the second proviso to Section 43B of the Act, by the Finance Act, 2003 operated retrospectively with effect from April 1, 1988 and not prospectively from April 1, 2004 as the amendment was to remove the difficulties which were there in the existing provision of Section 43B of the Act - Decided in the favour of assessee - ITA No. 486 of 2007 - - - Dated:- 9 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... s processed under Section 143(1)(a) of the Income Tax Act, 1961 (in short the Act ) and thereafter notice under Section 143(2) was issued to the assessee along with detailed questionnaire to which the assessee filed written submissions and attended the proceedings. The Assessing Officer denied the statutory benefit of deduction of Provident Fund and ESI to the assessee holding that benefit in res .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he omission of the second proviso to Section 43B of the Act, by the Finance Act, 2003 operated retrospectively with effect from April 1, 1988 and not prospectively from April 1, 2004 as the amendment was to remove the difficulties which were there in the existing provision of Section 43B of the Act. The contrary view taken by the Tribunal, thus, cannot be sustained. 6. In view of the above, th .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X