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TMI Blog2017 (7) TMI 663X X X X Extracts X X X X X X X X Extracts X X X X ..... s to take note of the legal position which holds the field as on date and in particular, when the amended provision was given retrospective effect. Writ petitions are allowed and the impugned orders are set aside and the matters are remanded to the respondent to decide the question of law which has been raised by the petitioner and as noticed above, after affording an opportunity of personal hearing to the petitioner and pass appropriate orders, on merits and in accordance with law. - W.P.Nos.3080 to 3082 of 2005 - - - Dated:- 6-7-2017 - T. S. Sivagnanam, J. For Petitioner : Mr.V.S.Jayakumar For Respondent : Mrs.Hema Muralikrishnan, SC. ORDER Heard Mr.V.S.Jayakumar, learned counsel appearing for the petitioner and M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... x (Appeals). In other respects, the assessment orders for all the three years remain unchallenged and attained finality. Against the interest levied under Section 234(B), the petitioner filed waiver petitions before the respondent raising various contentions. These applications have been rejected by the impugned orders. 5. The impugned orders have been challenged on several grounds and in particular, as being non-speaking orders. We need not labour much to decide the correctness of the stand taken by the respondent in the impugned orders in the light of certain recent decisions of the Hon'ble Supreme Court as well as this Court. 6. In the case of TVS Finance Services Limited vs. Joint Commissioner of Income Tax reported in (2009 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 07.2016 remanded the matter for fresh consideration to decide the question as to whether Lease Equalisation Reserve and Special Depreciation Reserve would fall under clause (g) to the explanation to the second proviso of Section 115 JA of the Income Tax Act. 10. In the instant case also such procedure has to be adopted as the respondent has to take note of the legal position which holds the field as on date and in particular, when the amended provision was given retrospective effect. 11. For the above reasons, the writ petitions are allowed and the impugned orders are set aside and the matters are remanded to the respondent to decide the question of law which has been raised by the petitioner and as noticed above, after affording an o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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