An amendment creating new tax liability on assessee from retrospective effect isn't valid: ITAT

INCOME TAX: Where at time of filing of return of income by assessee on 30-9-2009, sub-clause (e) to section 49(1)(iii) was not in statute as same was inserted by Finance Act, 2012, even though said amendment was retrospectively effective from 1-4-1999, it could not be applied for computing capital gain in relevant assessment year

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