TaxTMI 
TaxTMI 
2011 (8) TMI 463
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....bunal, Jabalpur Bench, Jabalpur in R.A. No. 13/Jab/1992, by which following question has been referred for the opinion of this Court:- "Whether on the facts and in the circumstances of the case and in the light of the provisions of Sec.43-B of the Income Tax Act, 1961, as existed, originally and after amendment, the Tribunal was justified in sustaining the addition of Rs. 51,918/- on account of s....
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....nature and until and unless a specific provision is made that it is retrospective, it is to be treated prospective. 3. To appreciate rival contention of the parties, the relevant facts of the present case deserves to be stated, which are :- The present case relates to the assessment year 1984-85, accounting year ending on 31.3.1984. The petitioner firm in that accounting year made a provision of....
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....tion was by the assessee under section 256(1) of the Act for referring the aforesaid question for the opinion of this Court and now this matter is before us for our opinion. 4. The controversy involved in this case is squarely covered by the judgment of Apex Court in Allied Motors (P.) Ltd.'s case (supra). A similar question was before the Apex Court. The Apex Court held that section 43B of t....
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....nd deposited it in the treds by within the statutory period falling in the next accounting year was not entitled to claim any deduction for it. This was not intended by section 43B. To avoid this kind of unexpected outcome of section 43B, the first proviso was added in section 43B by the Finance Act of 1988. The proviso makes it clear that the section will not apply in relation to any sum which is....