INCOME TAX OFFICER Vs. DHAN SAI SRIVAS

JUDGEMENT

(1.) These appeals are being disposed of by this common order as common substantial question of law is involved in these appeals whether on the facts and in the circumstances of the case the Income Tax Appellate Tribunal (for brevity 'the tribunal') was justified in law in directing the Assessing Officer (for short 'A.O.') to allow the claim of the assessee for exemption under Section 10(10C) of the Income Tax Act, 1961 (for short 'the Act') to the extent of Rs. 5,00,000/ - by applying the prospective amendment retrospectively?'

(2.) FOR the purpose of this order, reference is made to the facts of Tax Case No. 17/2007 (Income Tax Officer, Korba v. Ram Sevak Gupta).

(3.) THE assesses preferred an appeal against the order dated 25.4.2005 of the A.O. The CIT Appeals following the decision of the ITAT, Nagpur in the matter of Firtu Ram yadav v. ACIT, partly allowed the appeal. The appeal preferred by the department was again dismissed by the tribunal by the impugned order.