https://www.taxtmi.com/caselaws?id=203961 The High Court allowed the appeal, holding that the omission of the second proviso to Section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 had retrospective operation from April 1, 1988. The Court relied on a Supreme Court judgment establishing the retrospective nature of the amendment, contrary to the Tribunal's view. The assessee was granted the deduction sought for Provident Fund and ESI contributions, emphasizing the retrospective application of the legislative change. en-us Thu, 09 Dec 2010 00:00:00 +0530 Sat, 25 Jun 2011 22:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=203961 The High Court allowed the appeal, holding that the omission of the second proviso to Section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 had retrospective operation from April 1, 1988. The Court relied on a Supreme Court judgment establishing the retrospective nature of the amendment, contrary to the Tribunal's view. The assessee was granted the deduction sought for Provident Fund and ESI contributions, emphasizing the retrospective application of the legislative change. Case-Laws Income Tax Thu, 09 Dec 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=203961