https://www.taxtmi.com/caselaws?id=19825 The court dismissed the Revenue's petition seeking a reference to the High Court regarding investment allowance claimed by the assessee under section 32A(4) of the Income-tax Act for the assessment year 1981-82. The court held that the refusal to grant the allowance was incorrect based on subsequent retrospective amendments, emphasizing that all proceedings must follow the amended law, deeming the earlier order to be in error. The judgment highlighted the importance of rectifying mistakes of law apparent from the record, especially in light of retrospective amendments, ultimately affirming the Tribunal's decision to decline the reference. en-us Wed, 09 Feb 1994 00:00:00 +0530 Mon, 09 Nov 2009 18:45:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19825 The court dismissed the Revenue's petition seeking a reference to the High Court regarding investment allowance claimed by the assessee under section 32A(4) of the Income-tax Act for the assessment year 1981-82. The court held that the refusal to grant the allowance was incorrect based on subsequent retrospective amendments, emphasizing that all proceedings must follow the amended law, deeming the earlier order to be in error. The judgment highlighted the importance of rectifying mistakes of law apparent from the record, especially in light of retrospective amendments, ultimately affirming the Tribunal's decision to decline the reference. Case-Laws Income Tax Wed, 09 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19825