M/s.V.R.Farms Pvt Ltd vs. Deputy Commissioner of Income Tax

The appeals are dismissed

Bench: P.SAM KOSHY,SUDDALA CHALAPATHI RAO

5. Broadly speaking, these were the submissions of the learned counsel on both sides. However, before we embark upon a discussion of the issues at hand we feel that it would be appropriate if the contentions of the learned counsel are set out in somewhat greater detail. It was submitted on behalf of the appellant/revenue that section 234B provides

Commissioner of Income tax-V, vs. M/s. INTRACK INC,

5. The argument of the Revenue is, when the Finance Act, 2010, expressly states that the said provision would come into effect from 01.04.2010, it is not permissible for the Tribunals or the Courts to give it a retrospective effect prior to the date and therefore, it is submitted that the order passed by the Tribunal holding it as retrospective