2016 (8) TMI 1355

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.... THE RESPONDENT ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) By way of this appeal under section 260A of the Income-tax Act, 1961, the appellant-assessee has challenged the order of the Income-tax Appellate Tribunal (hereinafter referred to as "the Tribunal") whereby the Tribunal has dismissed the cross-objection preferred by the assessee. 2. This court, while admitting the a....

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....t in the case of Commissioner of Income-tax, Ahmedabad-IV v. Omprakash R. Chaudhary, 2015 (57) Taxmann.com 38 wherein the court has held that the amendment made in section 40(a)(ia) of the Income-tax Act, 1961, by the Finance Act, 2010 is retrospective in nature having effect from 1st April, 2005 i.e. from the date of insertion of section 40(a)(ia) of the Act. Under the circumstances, it is not ne....