https://www.taxtmi.com/caselaws?id=60140 The Tribunal held that the assessee was not entitled to further exemption under section 10B of the Income-tax Act for the assessment year 1998-99, despite the amendment extending the benefit to ten years. The Tribunal emphasized that the law, as it stood during the relevant assessment year, only allowed for five years of exemption and that the amendment did not have retrospective effect. The Tribunal rejected the assessee's argument regarding legislative intent and casus omissus, affirming the decisions of the lower authorities and dismissing the appeal. en-us Wed, 27 Nov 2002 00:00:00 +0530 Mon, 03 Jan 2011 18:31:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60140 The Tribunal held that the assessee was not entitled to further exemption under section 10B of the Income-tax Act for the assessment year 1998-99, despite the amendment extending the benefit to ten years. The Tribunal emphasized that the law, as it stood during the relevant assessment year, only allowed for five years of exemption and that the amendment did not have retrospective effect. The Tribunal rejected the assessee's argument regarding legislative intent and casus omissus, affirming the decisions of the lower authorities and dismissing the appeal. Case-Laws Income Tax Wed, 27 Nov 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60140