https://www.taxtmi.com/caselaws?id=17620 The court affirmed the Income-tax Appellate Tribunal's decision to rectify the appellate order in favor of the Revenue regarding the retrospective applicability of amendments to section 43B of the Income-tax Act, 1961. The court held that the deeming provision introduced by the Finance Act, 1989, clarified that any sum payable, even if not due within the relevant year, should be considered under the amended provision, settling the issue. The court also noted conflicting High Court decisions on the interpretation of the amendment, ultimately ruling in favor of the Revenue and directing the judgment to the Income-tax Appellate Tribunal, Cochin Bench. en-us Thu, 19 Sep 1996 00:00:00 +0530 Wed, 23 Sep 2009 16:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17620 The court affirmed the Income-tax Appellate Tribunal's decision to rectify the appellate order in favor of the Revenue regarding the retrospective applicability of amendments to section 43B of the Income-tax Act, 1961. The court held that the deeming provision introduced by the Finance Act, 1989, clarified that any sum payable, even if not due within the relevant year, should be considered under the amended provision, settling the issue. The court also noted conflicting High Court decisions on the interpretation of the amendment, ultimately ruling in favor of the Revenue and directing the judgment to the Income-tax Appellate Tribunal, Cochin Bench. Case-Laws Income Tax Thu, 19 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17620