1990 (9) TMI 60

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....ivered by T. D. SUGLA J. -This is an application by the Department under section 256(2) of the Income-tax Act, 1961. The proceedings relate to the assessment year 1978-79. The Department has sought to raise two questions as questions of law. They are : "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that passing of an order by the Comm....

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.... in the case of CIT v. P. Muncherji and Co. [1987] 167 ITR 671 in favour of the assessee and against the Revenue. It is also seen that an Explanation was inserted in section 263 by the Taxation Laws (Amendment) Act, 1984, with effect from October 1, 1984. The Explanation then had clauses (a) and (b) only and had nothing to do with the question involved herein. Clause (c) was inserted in the Explan....

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.... has examined the effect of Explanation (c) as retrospectively amended in the case of Ritz Ltd. v. Union of India [1990] 184 ITR 599. One of us, T. D. Sugla J., had decided the petition. It is held that the amendment is retrospective with effect from June 1, 1988, which mean's that it will cover only those orders which became the subject-matter of appeal after that date. It is further held that Ex....