2004 (12) TMI 44

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.....- By order dated September 16, 2002, this court admitted the above tax case appeal on the following questions of law: "1. Whether, the Tribunal was right in holding that the provisions of Explanation 4A to section 43(1) which came into force with effect from October 1, 1996, would be applicable to prior period transactions which has taken place during August, 1995, relevant to the assessment y....

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....lowance as claimed by the assessee. It is pointed out by learned counsel for the assessee that Explanation 4A to section 43(1) of the Act was inserted by the Finance (No. 2) Act, 1996, with effect from October 1, 1996, and the said provision is not applicable for the assessment year in question. Learned counsel for the Revenue has not seriously disputed that Explanation 4A to section 43(1) of the ....