2011 (6) TMI 137

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....r : HONOURABLE MS.JUSTICE HARSHA DEVANI)   (1) In this appeal under section 260A of the Income Tax Act, 1961 (the Act) the appellant-revenue has challenged the order dated 31.07.2006 made by the Income Tax Appellate Tribunal, Ahmedabad Bench 'D' in I.T.A. No.926/Ahd/2006 for Assessment Year 2003-04.   (2) While admitting the appeal, this court had vide order dated 13.12.2007 formul....

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....t out the facts and contentions in detail.   (5) The Supreme Court in the case of Commissioner of Income Tax Vs. Alom Extrusions Ltd. (supra) has observed that the omission of the second proviso to section 43B of the Income-tax Act, 1961, by the Finance Act, 2003, operated, retrospectively, with effect from April 1, 1988 and not prospectively from April 1, 2004. Earlier under the second pr....

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....at if strict construction leads to a result not intended to be subserved by the object of the legislation, and if another construction is possible apart from the literal construction, then that construction should be preferred.   (6) The aforesaid decision of the Supreme Court would be squarely applicable to the facts of the case. In the circumstances, following the aforesaid decision, the....