https://www.taxtmi.com/caselaws?id=358025 The Allahabad High Court ruled that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961 should be applied retrospectively, benefiting the Assessee. The court aligned with the Supreme Court and Delhi High Court's view that beneficial provisions in fiscal statutes should be applied retroactively unless expressly stated otherwise. The appeal was dismissed in favor of the Assessee, concluding that the amendment was retrospective, following established judicial principles. en-us Tue, 22 Aug 2017 00:00:00 +0530 Wed, 04 Apr 2018 06:39:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=358025 The Allahabad High Court ruled that the second proviso to Section 40(a)(ia) of the Income Tax Act, 1961 should be applied retrospectively, benefiting the Assessee. The court aligned with the Supreme Court and Delhi High Court's view that beneficial provisions in fiscal statutes should be applied retroactively unless expressly stated otherwise. The appeal was dismissed in favor of the Assessee, concluding that the amendment was retrospective, following established judicial principles. Case-Laws Income Tax Tue, 22 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=358025