Whether Rule 8D has retrospective operation
Last updated: 06 June 2013
Court :
INCOME TAX APPELLATE TRIBUNAL
Brief :
The appellant is engaged in export of handicraft and shawl etc. and local sale of software. The assessee has income from business, capital gains and income from other sources during the AY 2008-09 and the same sources of income as were in earlier years. The return was processed u/s 143(1) dt. 11.11.2009at an income of Rs.89,23,610/- as against returned income of Rs.28,055,40/-. Rectification application pointing out mistake apparent from record is still pending.
Citation :
ACIT, Circle 2(1) Room 1398 D C.R.bdlg. New Delhi (Appellant) Vs. B.Jain Exports P.Ltd. 1921/10, Chuna Mandi Paharganj New Delhi PAN: AAACB 0250 A (Respondent)
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Published in Income Tax
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