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TMI Blog2019 (4) TMI 830X X X X Extracts X X X X X X X X Extracts X X X X ..... by Hon’ble Supreme Court in CIT vs. Ansal Landmark Township (P.) Ltd. [2016 (8) TMI 1281 - SUPREME COURT OF INDIA] The view that second proviso of Section 40(a)(ia) of I.T. Act is declaratory and curative in nature and has retrospective effect from 01.04.2005 was also taken in Rajeev Kumar Agarwal vs. Addl. CIT [2014 (6) TMI 79 - ITAT AGRA] and and Hindustan Plywood Company vs. ITO [2016 (3) TMI 1062 - ITAT DELHI]. The issue in question is squarely covered in favour of the assessee, in view of these precedents. Thus second proviso to Section 40(a)(ia) of I.T. Act is curative in nature and has retrospectively. Accordingly, in the fitness of things, and also as both sides agree, the disputed addition U/s 40(a)(ia) of I.T. Act is rem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e not considered by the Assessing Officer. 2. That the Learned CIT (A)-2, Gurgaon also erred in confirming the above disallowance/addition and rejecting the appeal of the appellant on this point. 3. That the disallowance/addition made by the ACIT, Karnal and confirmed by the Learned CIT(A)-2, Gurgaon are liable to be quashed by this Hon ble Tribunal. 4. That the detailed arguments shall be put forth before this Hon ble Tribunal at the time of hearing of this appeal. 5. That keeping in view the facts and circumstances mentioned above, the addition/disallowance be kindly quashed and appropriate relief be kindly given to the appellant. The appellant craves leave to add, alter, change or modify the above grounds of appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s rejected by the AO, by holding as under: 7. Regarding retrospective effect to proviso to section 201 inserted by the Finance Act, 2012 w.e.f. 01.07.2012, it is clearly written about the date from which effect is to take place for any law and provisions contained when it is specifically written that the effect is to take place from such date, the effect has to be applied from such date. Even otherwise, when no date is written about the applicability of the provisions of any statute, it is assumed that it will have prospective application, not retrospective. There are no two views. (C) Aggrieved, the assessee filed appeal before the Learned Commissioner of Income Tax (Appeals) [ Ld. CIT(A) , for short]. Vide appellate order dated ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mar Agarwal vs. Additional Commissioner of Income Tax (ITA No. 337/Agra/2013); and order dated 26.08.2015, High Court of Delhi in the case of Commissioner of Income Tax vs. Ansal Land Mark Township (P) Ltd. (ITA 160/2015, 161/2015). The Ld. Counsel for assessee further submitted that the assessee is willing to prove to the satisfaction of Revenue Authorities that conditions necessary for availing the benefit of second proviso to Section 40(a)(ia) of I.T. Act are fulfilled by the assessee; and accordingly submitted that the matter be remanded to the AO for verification in this regard and fresh order on this issue. The Learned Departmental Representative ( Ld. DR , for short) agreed with the submission of the Ld. Counsel for the assessee that ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... it has retrospective effect from 01.04.2005. Revenue s Special Leave Petition against this order of Hon ble Delhi High Court has been dismissed by Hon ble Supreme Court in CIT vs. Ansal Landmark Township (P.) Ltd. 242 Taxman 5 (SC). The view that second proviso of Section 40(a)(ia) of I.T. Act is declaratory and curative in nature and has retrospective effect from 01.04.2005 was also taken in Rajeev Kumar Agarwal vs. Addl. CIT 149 ITD 363 (Agra- Trib.); and in DCIT vs. Esaote India (NS) Ltd. 172 ITD 299 (Ahd.) and Hindustan Plywood Company vs. ITO (supra). The issue in question is squarely covered in favour of the assessee, in view of these precedents. Therefore, we also hold, respectfully following theses precedents, that second proviso t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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