1996 (5) TMI 24

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.... for the respondents. In the assessment year 1989-90, the petitioner filed a return of loss of Rs. 66,72,700. The Deputy Commissioner of Income-tax (Assessment), Special Range, Moradabad, issued an intimation to the petitioner, a true copy of which is annexure 2 to the writ petition, in which certain adjustments have been made in the return and an additional income-tax under section 143(1A) of ....

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....preme Court in Reliance Jute and Industries Ltd. v. CIT [1979] 120 ITR 921 has held that the law to be applied is the law in force in the assessment year unless otherwise provided. Hence, the amendment to the law which came into effect from April 1, 1989, will apply to the assessment year 1989-90 with which we are concerned and hence it will apply to the facts of the present case. As regards the d....