Amendment to Sections 36(1)(va) & 43B vide Finance Act, 2021 are prospective

G. D. Builders Vs. JCIT (ITAT Delhi)

The Coordinate Bench of the Tribunal in the Continental Restaurant Café Company Vs. ITO reported in (2021) 91 ITR 5(SN) 60 (Bang.) and Ananda Bhavan Sweets India Pvt. Ltd. Vs. ITA No. 402 and 403/Chny/2021 order dated 8/12/2021 has already held that, the said amendment to Section 39(1)(va) and Section 43B effected by Finance Act 2021 is having prospective effect. Since, the said amendment is having prospective effect and not being retrospective one the same cannot be applied to the prese

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