TIOL-DDT 1084 · Thursday, 2 April 2009 · story 3 of 3
If an amendment is fairly capable of either interpretation, it ought to be construed as prospective only – AAR
By Vijay Kumar
Today we bring you an important Advance ruling pertaining to Rural Electrification Corporation Ltd where the IT Authorities had denied deduction on account of provision for bad and doubtful debts.