https://www.taxtmi.com/caselaws?id=424117 The High Court dismissed the appeal under Section 260A of the Income Tax Act, upholding the decision of the Income Tax Appellate Tribunal (ITAT). The ITAT's findings were deemed logical and based on relevant legal provisions, including the Indian Contract Act, 1872. The ITAT concluded that the amended provisions could not be applied retroactively, and the assessment order was not erroneous or prejudicial to Revenue's interest. The court emphasized the importance of upholding the ITAT's decision if based on logical reasoning, leading to the dismissal of the appeal as no substantial question of law arose. en-us Mon, 09 May 2022 00:00:00 +0530 Wed, 22 Jun 2022 09:15:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424117 The High Court dismissed the appeal under Section 260A of the Income Tax Act, upholding the decision of the Income Tax Appellate Tribunal (ITAT). The ITAT's findings were deemed logical and based on relevant legal provisions, including the Indian Contract Act, 1872. The ITAT concluded that the amended provisions could not be applied retroactively, and the assessment order was not erroneous or prejudicial to Revenue's interest. The court emphasized the importance of upholding the ITAT's decision if based on logical reasoning, leading to the dismissal of the appeal as no substantial question of law arose. Case-Laws Income Tax Mon, 09 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424117