https://www.taxtmi.com/caselaws?id=779168 Forfeited advances could not be taxed as income from other sources under Section 56(2)(ix) for Assessment Year 2012-13 because that provision was inserted by the Finance Act, 2014 with effect from 1 April 2015. As no material supported retrospective operation, the addition was held unsustainable and was directed to be deleted. en-us Mon, 20 Jan 2025 00:00:00 +0530 Mon, 29 Sep 2025 17:29:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779168 Forfeited advances could not be taxed as income from other sources under Section 56(2)(ix) for Assessment Year 2012-13 because that provision was inserted by the Finance Act, 2014 with effect from 1 April 2015. As no material supported retrospective operation, the addition was held unsustainable and was directed to be deleted. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779168