sec 80HHC- Taxation Laws (2nd Amendment) Act, 2005 have prospective effect

Brief of the case:

Madras High Court held in CIT V/s Ms Orient Express that the amendment to sec 80HHC would have prospective effect from 2005 not retrospective effect.

Facts of the case:

The assessee was engaged in the manufacturing business of Leather and leather garments and claimed deduction u/s 80HHC for A.Y 1999-2000 but AO denied the same on the basis that the amended provisions of sec 80HHC of IT Act which would have retrospective effect had not been fulfilled.

Contention of the assessee:

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