Dismissed
Commissioner of Income Tax v. Agricultural Market Committee
Telangana HCITTA/408/2011
Case brief
AI extract
What is this about?
The division bench held that Section 10(26AAB) of the Income Tax Act, 1961, introduced by the Finance Act, 2008, is prospective and not retrospective. Following its prior decision in Commissioner of Income Tax v Agricultural Market Committee, Tanuku, the appeal filed by the Revenue was dismissed.
What did the court decide?
The appeal was dismissed with no costs to the respondent; advocate fee fixed at Rs. 5,000.