https://www.taxtmi.com/caselaws?id=180316 The High Court of Calcutta held that the amendment to section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 is retrospective and clarificatory in nature. The Court ruled in favor of the assessee, directing that the benefit of the amended provision should be granted. Consequently, the Court set aside the Tribunal's decision that denied the benefit of the amendment. The appeals were disposed of with no order as to costs. en-us Fri, 11 Mar 2011 00:00:00 +0530 Mon, 21 Mar 2016 14:13:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180316 The High Court of Calcutta held that the amendment to section 43B of the Income Tax Act, 1961 by the Finance Act, 2003 is retrospective and clarificatory in nature. The Court ruled in favor of the assessee, directing that the benefit of the amended provision should be granted. Consequently, the Court set aside the Tribunal's decision that denied the benefit of the amendment. The appeals were disposed of with no order as to costs. Case-Laws Income Tax Fri, 11 Mar 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180316