2016 (1) TMI 1263

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....ar (Accountant Member) By way of this appeal, the assessee has challenged correctness of the order dated 18th August, 2011 passed by the learned CIT(A), in the matter of assessment under section 143(3) of the Income Tax Act, 1961 ('the Act' hereinafter), for the assessment year 2007- 08, on the ground that "on the facts and circumstances of the case the leaned Commissioner of Income Tax (Appeals)....

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....ve heard the rival contentions, perused the material on record and duly considered facts of the case in the light of the applicable legal position. We have noted that as held by the Hon'ble Delhi High Court in the case of CIT vs. Ansal Landmark Township (P) Ltd, 377 ITR 635 (Delhi) the second proviso to section 40(ia) even though it is stated to be effective from 01.04.2013 is to be taken as retro....