1992 (4) TMI 90

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.... of the IT Act, 1961 for the asst. yr. 1985-86. 2. The assessee, which is a registered firm, derives income from the purchase and sale of tractors, motor cycles and the or accessories. In the assessment completed on 24th March, 1988 under s. 143(3), the ITO did not include an amount of Rs. 94,476 under which the assessee had realised Rajasthan Sales-tax in the last quarter of the relevant accou....

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.... (1988) 173 ITR 708 (AP) (ii) S. Govindaraja Reddiar vs. ITO (1986) 19 ITD 177 (Coch) (iii) Kapoor Motor Engineering (P) Ltd. vs. ITO (1987) 63 CTR (Trib) 1 It was also pointed out that the amendment to s. 43B by the Taxation Laws (Amendment) Act, 1987 w.e.f. 1st April, 1988 being clarificatory in nature, was operative for the asst. yr. 1985-86 in question. However, the learned CIT took t....

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....2 (SC) However, on behalf of the Department Sri A.S. Choudhary, the learned Departmental Representative, supported the impugned order on the basis of the following decisions of Delhi High Court: (i) Sanghi Motors vs. CIT (1991) 91 CTR (Del) 15 : (1991) 187 ITR 703 (Del) (ii) Escorts Ltd. vs. Union of India & Ors. (1991) 93 CTR (Del) 169 : (1991) 189 ITR 81 (Del) Sri Choudhary also poin....

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....ive is its effect and cannot go behind the date on which the Amending Act took effect whereas according to the other 5 High Courts, the amendment is merely clarificatory, declaratory or explanatory and, therefore, retrospective. There is no decision of the jurisdictional High Court of Rajasthan one way or the other yet. Therefore, in such a situation where two views exist, on the basis of the prin....