https://www.taxtmi.com/caselaws?id=192554 The High Court ruled in favor of the appellant/assessee in an appeal against the Tribunal's order for the assessment year 2008-2009. The Court held that Explanation 2 to Section 132B of the Income Tax Act, 1961, inserted by the Finance Act, 2013, is prospective from 01.06.2013 based on previous judgments. As a result, the Court found the explanation inapplicable to the appellant's case, leading to the setting aside of the Tribunal's order. en-us Thu, 17 Nov 2016 00:00:00 +0530 Tue, 06 Jun 2017 06:48:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192554 The High Court ruled in favor of the appellant/assessee in an appeal against the Tribunal's order for the assessment year 2008-2009. The Court held that Explanation 2 to Section 132B of the Income Tax Act, 1961, inserted by the Finance Act, 2013, is prospective from 01.06.2013 based on previous judgments. As a result, the Court found the explanation inapplicable to the appellant's case, leading to the setting aside of the Tribunal's order. Case-Laws Income Tax Thu, 17 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192554