2015 (10) TMI 1446

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....Singh: This appeal by revenue is arising out of order of CIT(A)-XIX, Kolkata in Appeal No. 164/CIT(A)-X/ITO,Wd-32(2)/Kol/11-12 dated 31.07.2012. Assessment was framed by ITO, Ward-32(2), Kolkata u/s. 143(3) of the Income-tax Act, 1961 (hereinafter referred to as the "Act") for AY 2006-07 vide his order dated 30.11.2011. 2. The first issue in this appeal of revenue is against the order of CIT....

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....sel for the assessee stated that this issue is covered by the decision of Hon'ble jurisdictional High Court in the case of CIT Vs. Virgin Creations in ITAT No.302 of 2011, GA No. 3200/2011 dated 23.11.2011, wherein even amendment made by the Finance Act 2010 in section 40(a)(ia) of the Act is held to be retrospective. Hon'ble High Court held as under: "We have heard Mr. Nizamuddin and g....

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....ons Ltd., has already decided that the aforesaid provision has retrospective application. Again, in the case reported in 82 ITR 570, the Supreme Court held that the provision, which has inserted the remedy to make the provision workable, requires to be treated with retrospective operation so that reasonable deduction can be given to the section as well. In view of the authoritative pronouncemen....

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.... 1 Contract Rs. 2,405/- 7/10/2005 10/04/2006 2 Contract Rs. 3,973/- 7/11/2005 10/04/2006 3 Contract Rs. 4,287/- 7/12/2005 10/04/2006 4 Contract Rs. 3,973/- 7/01/2006 10/04/2006 5 Contract Rs. 39,815/- 7/02/2006 12/04/2006 6 Contract Rs. 8,783/- 7/03/2006 12/04/2006   TOTAL Rs. 63,236/-   ....