https://www.taxtmi.com/caselaws?id=273862 The High Court upheld the Income Tax Appellate Tribunal's decision in a case concerning the disallowance of a loss claimed by the assessee due to the purchase and sale of mutual funds within a short duration. The Court determined that the provision in question, introduced after the transactions in question took place, could not be applied retrospectively. The judgment emphasized the need to interpret tax laws based on their effective dates, leading to the dismissal of the Revenue's tax appeal. en-us Wed, 30 Aug 2017 00:00:00 +0530 Wed, 18 Jul 2018 06:08:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273862 The High Court upheld the Income Tax Appellate Tribunal's decision in a case concerning the disallowance of a loss claimed by the assessee due to the purchase and sale of mutual funds within a short duration. The Court determined that the provision in question, introduced after the transactions in question took place, could not be applied retrospectively. The judgment emphasized the need to interpret tax laws based on their effective dates, leading to the dismissal of the Revenue's tax appeal. Case-Laws Income Tax Wed, 30 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273862