2002 (12) TMI 50

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....ALASUBRAMANIAN J.-This appeal is directed against the order of the Income-tax Appellate Tribunal in I.T. (SS) A. No. 88/Mds of 1997 dated September 1, 1999. The appeal was admitted and the following substantial questions of law were framed at the time of admission: "1. Whether, on the facts and in the circumstances, the Tribunal is right in holding that the appellant is not eligible for reli....

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....n accordance with Chapter IV" on the basis of the result of a search and the provisions of Chapter VI-A are excluded for consideration. Mrs. Anitha Sumanth, learned counsel appearing for the appellant, brought to the attention of this court that section 158BB of the Act was amended with retrospective effect from July 1, 1995, right from the date when Chapter XIV-B was inserted, and in view of t....

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....Chapter VI-A of the Act should also be taken into consideration in determining the undisclosed income of the block period. It is true that the Appellate Tribunal decided the matter on the basis of law then existing. The amendment came into force only by the Finance Act, 2002, with retrospective effect from July 1, 1995. Since the amendment has been given retrospective effect, we are of the view, t....