https://www.taxtmi.com/caselaws?id=13599 The court ruled in favor of the assessee, upholding the deletion of the undisclosed income assessment. It held that the amendment to section 158BB(1)(ca) of the Income-tax Act, which required a return to be filed to claim credit for income below the taxable limit, was not applicable retroactively to assessments made before the amendment in 2002. As the provision was not in force at the time of assessment in 2001, the assessee was entitled to the credit for the undisclosed income found during the search and seizure operation. The Department's appeal was dismissed, and no costs were awarded. en-us Wed, 29 Mar 2006 00:00:00 +0530 Sat, 30 May 2009 15:30:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13599 The court ruled in favor of the assessee, upholding the deletion of the undisclosed income assessment. It held that the amendment to section 158BB(1)(ca) of the Income-tax Act, which required a return to be filed to claim credit for income below the taxable limit, was not applicable retroactively to assessments made before the amendment in 2002. As the provision was not in force at the time of assessment in 2001, the assessee was entitled to the credit for the undisclosed income found during the search and seizure operation. The Department's appeal was dismissed, and no costs were awarded. Case-Laws Income Tax Wed, 29 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13599