https://www.taxtmi.com/caselaws?id=40253 Section 80AB of the Income-tax Act was treated as declaratory of the law and not as a provision requiring reconsideration by a larger Bench, because sections 80AA and 80AB were introduced together and section 80AA had already been held to state the law as it always stood. On that same reasoning, section 80AB was also regarded as merely clarifying the existing legal position. Any contrary implication suggested by Board circulars on prospectivity was held immaterial. The request to reopen the earlier ruling was rejected and the appeal failed. en-us Thu, 20 Jul 2000 00:00:00 +0530 Tue, 28 Aug 2018 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40253 Section 80AB of the Income-tax Act was treated as declaratory of the law and not as a provision requiring reconsideration by a larger Bench, because sections 80AA and 80AB were introduced together and section 80AA had already been held to state the law as it always stood. On that same reasoning, section 80AB was also regarded as merely clarifying the existing legal position. Any contrary implication suggested by Board circulars on prospectivity was held immaterial. The request to reopen the earlier ruling was rejected and the appeal failed. Case-Laws Income Tax Thu, 20 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40253