Supreme Court · 1997 INSC 237 · Decided 10 March 1997
Allied Motors (P) LTD. v. Commissioner of Income Tax, Delhi
- Court
- Supreme Court of India
- Citation
- 1997 INSC 237 · [1997] 2 S.C.R. 780
- Case number
- TAX REFERENCE CASE No. 2/1993
- Decided
- 10 March 1997
- Bench
- A.M. AHMADI, SUJATA V. MANOHAR, K. VENKATASWAMI (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Tax
- Acts & sections cited
- Income Tax Act
Headnote
Income Tax Act, 1961 : C Section 43-B first proviso-Retrospective operation of-Held : First proviso effective since inception of S. 43-B-Nature and object of proviso considered-Reasonable construction applied-Memorandum of Reasons of Finance Bill, 1989 and Depa1tme11tal Circular No. 550 dated D Section 43-B first proviso-Nature and object of-Held : Remedial in nature, designed to eliminate unintended consequences of S. 43-B which might cause undue hardship to the assessee in a specific situation and thereby make the provision unworkable or unjust-Memorandum explaining I . provisions
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