https://www.taxtmi.com/caselaws?id=33823 The High Court of UTTARAKHAND ruled in favor of the respondent/assessee in a case involving the retrospective effect of the deletion of the second proviso to section 43B of the Income-tax Act, 1961. The court held that the deletion of the proviso by the Finance Act, 2003, was curative and had a retrospective effect. This decision was based on a Supreme Court precedent, interpreting the legislative change in a manner favorable to the respondent/assessee. Consequently, the court dismissed the Revenue's appeal, emphasizing the importance of aligning statutory amendments with judicial precedents to ascertain retrospective implications. en-us Mon, 12 May 2008 00:00:00 +0530 Mon, 15 Jun 2009 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=33823 The High Court of UTTARAKHAND ruled in favor of the respondent/assessee in a case involving the retrospective effect of the deletion of the second proviso to section 43B of the Income-tax Act, 1961. The court held that the deletion of the proviso by the Finance Act, 2003, was curative and had a retrospective effect. This decision was based on a Supreme Court precedent, interpreting the legislative change in a manner favorable to the respondent/assessee. Consequently, the court dismissed the Revenue's appeal, emphasizing the importance of aligning statutory amendments with judicial precedents to ascertain retrospective implications. Case-Laws Income Tax Mon, 12 May 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=33823