Allowing the appeal of the assessee the Court held that; prior to assessment Year 1999-2000 benefit under Section 80IA is available without exclusion of deduction Under S.80HHC .Sub \u2013section (9A) with effect from 1-4-1999 is prospective. Circulars binding on revenue .Liberal interpretation\u00a0 The amendment by introduction of sub-section 9A to section 80IA is explicitly prospective with effect from April 1, 1999 .It is neither declaratory or clarificatory nor is it in the nature of explanation. Thus , a strict reading of fiscal statute would prevent the amendment being read as retrospective in the absence of the statute providing for it .( AY.1997 -98)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 80IA :Industrial undertakings \u2013 Prior to assessment Year 1999-2000 benefit under Section 80IA is available without exclusion of deduction Under S.80HHC \u2013Sub \u2013section (9a) with effect from 1-4-1999 is prospective-Circulars binding on revenue -Liberal interpretation \u2014 Retrospective operation of provisions. [ S.80HHC, 119 ]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2515","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-Ez","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2515","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=2515"}],"version-history":[{"count":2,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2515\/revisions"}],"predecessor-version":[{"id":2880,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/2515\/revisions\/2880"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=2515"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=2515"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=2515"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}