https://www.taxtmi.com/caselaws?id=247627 The Tribunal held that the amended provision of section 94(7) would apply prospectively from the assessment year 2005-06, not retrospectively to 2004-05. This decision impacted the disallowance of losses for units held over three months, emphasizing statutory interpretation and legal principles in tax assessments. The Tribunal directed the Assessing Officer to reevaluate the loss disallowance under section 94(7) for the relevant assessment year. en-us Wed, 07 May 2014 00:00:00 +0530 Sat, 17 May 2014 09:12:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247627 The Tribunal held that the amended provision of section 94(7) would apply prospectively from the assessment year 2005-06, not retrospectively to 2004-05. This decision impacted the disallowance of losses for units held over three months, emphasizing statutory interpretation and legal principles in tax assessments. The Tribunal directed the Assessing Officer to reevaluate the loss disallowance under section 94(7) for the relevant assessment year. Case-Laws Income Tax Wed, 07 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247627