Case Law Details
Principal CIT Vs M/s. Manoj Kumar Singh (Allahabad High Court)
It is not disputed that Section 40(a)(ia) proviso is for the benefit of Assessee. When a provision has been made in fiscal statute for benefit of Assessee, in absence of any express provision or a provision which by necessary implication gives a different impression, such provision which is beneficial to Assessee must be read and given effect to retroactively.
FULL TEXT OF THE HIGH COURT ORDER / JUDGMENT
1. Heard Sri Alok Mathur, learned counsel for appellant and Sri Pradeep Agrawal, learned counsel for respondent.
2. This appeal has been filed by Principal Commissioner of Income Tax, Lucknow under Section 260A of Income Tax Act, 1961 (hereinafter referred to as “Act 1961”) arising from judgment and order dated 16.10.2015 passed in ITA No. 260/LKW/2014 relating to Assessment Year 2009-10.
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