https://www.taxtmi.com/caselaws?id=200085 The court upheld the Tribunal's decision, rejecting the appellant's interpretation of Section 32(2)(iii)(a) and (b) of the Income Tax Act, 1961. Despite arguments based on the Finance Minister's speech, the court found that the legislative intent as per the statutory provisions did not support the appellant's position. The court also ruled against the retrospective effect of the Finance (No.2) Act, 1996 on the set off of unabsorbed depreciation allowance. The appeal was dismissed, and the revenue department was directed to regularize the advocate's appointment. en-us Mon, 21 Jul 2014 00:00:00 +0530 Tue, 20 Mar 2018 07:51:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200085 The court upheld the Tribunal's decision, rejecting the appellant's interpretation of Section 32(2)(iii)(a) and (b) of the Income Tax Act, 1961. Despite arguments based on the Finance Minister's speech, the court found that the legislative intent as per the statutory provisions did not support the appellant's position. The court also ruled against the retrospective effect of the Finance (No.2) Act, 1996 on the set off of unabsorbed depreciation allowance. The appeal was dismissed, and the revenue department was directed to regularize the advocate's appointment. Case-Laws Income Tax Mon, 21 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200085