Omission of clause from statue- Deemed to be from inception or not?

Texport Overseas Private Limited Vs. Dy. CIT (ITAT Bangalore)

Pursuant to the amendment made by Finance Act 2017, omission of clause (i) of Section 92BA of the IT Act, 1961 (“The Act”) be deemed to be removed from statute since the beginning until and unless there is some saving clause or provision that pending proceedings shall be continued and be disposed off under old rules.

Outcome: In favor of Assessee

Issue:

Whether on account of omission of clause (i) from the statute, the proceedings already initiated or action taken under clause (i) becomes redundant or otiose?

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