https://www.taxtmi.com/caselaws?id=11659 The court dismissed the appeal, holding that the amended provisions of section 40A(3) were not applicable to the case. It determined that even genuine expenditures discovered during a search could be considered as income for tax purposes. Additionally, the court found that the amendment to section 40A(3) was substantive, not procedural, and could not be applied retrospectively. The decision affirmed the Tribunal's ruling that the amended provision was prospective, resulting in the dismissal of the appeal without costs. en-us Wed, 24 Apr 2002 00:00:00 +0530 Fri, 20 Jan 2012 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11659 The court dismissed the appeal, holding that the amended provisions of section 40A(3) were not applicable to the case. It determined that even genuine expenditures discovered during a search could be considered as income for tax purposes. Additionally, the court found that the amendment to section 40A(3) was substantive, not procedural, and could not be applied retrospectively. The decision affirmed the Tribunal's ruling that the amended provision was prospective, resulting in the dismissal of the appeal without costs. Case-Laws Income Tax Wed, 24 Apr 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11659