https://www.taxtmi.com/caselaws?id=205369 The Tribunal held that for the Assessment Year 2006-07, interest on temporary investments and profit from the sale of mutual fund units are exempt under Section 10(23FB) of the Income Tax Act, 1961. The appeal by the Revenue was dismissed, affirming the CIT(A)'s decision. The Tribunal emphasized that the amendments restricting the exemption to income from Venture Capital Undertakings introduced by the Finance Act, 2007, were prospective and not applicable retrospectively to the relevant assessment year. en-us Wed, 09 Mar 2011 00:00:00 +0530 Fri, 31 May 2013 17:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205369 The Tribunal held that for the Assessment Year 2006-07, interest on temporary investments and profit from the sale of mutual fund units are exempt under Section 10(23FB) of the Income Tax Act, 1961. The appeal by the Revenue was dismissed, affirming the CIT(A)'s decision. The Tribunal emphasized that the amendments restricting the exemption to income from Venture Capital Undertakings introduced by the Finance Act, 2007, were prospective and not applicable retrospectively to the relevant assessment year. Case-Laws Income Tax Wed, 09 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205369