https://www.taxtmi.com/caselaws?id=26476 Retrospective insertion of section 80J(1A) by the Finance (No. 2) Act, 1980 with effect from 1 April 1972 governed the computation of relief under section 80J, and the court could rely on that amended statutory position in answering the reference. The argument that the amended provision could not be applied because it was not before the Tribunal, or because rectification was time-barred, was rejected. On that basis, loans from approved financial institutions were not treated as capital employed for the assessee's section 80J claim, and the reference was answered against the assessee. en-us Sat, 01 Dec 1984 00:00:00 +0530 Fri, 05 Feb 2010 12:45:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26476 Retrospective insertion of section 80J(1A) by the Finance (No. 2) Act, 1980 with effect from 1 April 1972 governed the computation of relief under section 80J, and the court could rely on that amended statutory position in answering the reference. The argument that the amended provision could not be applied because it was not before the Tribunal, or because rectification was time-barred, was rejected. On that basis, loans from approved financial institutions were not treated as capital employed for the assessee's section 80J claim, and the reference was answered against the assessee. Case-Laws Income Tax Sat, 01 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26476