https://www.taxtmi.com/caselaws?id=760164 The HC set aside the ITAT's order under Section 260A of the Income Tax Act, 1961, due to the legislative amendment by the Finance Act, 2015, which altered the interpretation of "belongs to" to "pertains to." The amendment was deemed applicable to pre-1-6-2015 searches. The appeals were remanded to ITAT for reconsideration of unresolved grounds raised by the assessee, with both parties agreeing to the Revenue's favor. The appeals were allowed without costs. en-us Tue, 08 Oct 2024 00:00:00 +0530 Wed, 16 Oct 2024 10:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760164 The HC set aside the ITAT's order under Section 260A of the Income Tax Act, 1961, due to the legislative amendment by the Finance Act, 2015, which altered the interpretation of "belongs to" to "pertains to." The amendment was deemed applicable to pre-1-6-2015 searches. The appeals were remanded to ITAT for reconsideration of unresolved grounds raised by the assessee, with both parties agreeing to the Revenue's favor. The appeals were allowed without costs. Case-Laws Income Tax Tue, 08 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760164