(per the Hon’ble Sri Justice P.Sam Koshy)

Heard Mr. Dundu Manmohan, learned counsel, representing Mr. G.V.N.

Hari, learned counsel for the appellant, and Ms. Bokaro Sapna Reddy, learned Senior Standing Counsel for Income Tax Department for the respondent.

2. The instant appeal was admitted on the following substantial questions of law, viz., “(A) Whether on the facts and in the circumstances of the case, the Appellate Tribunal is justified in holding that the amendment made by Finance Act, 2010 to S.40(a)(ia) of the Income Tax Act, 1961 is neither remedial nor curative in nature and is, therefore, prospective in its operation?

(B) Whether on the facts and in the circumstances of the case, the Appellate Tribunal erred in not adhering to the principles of Judicial Discipline by not following the later judgment of hon’ble Calcutta High Court which is a higher forum and following the decision rendered by the Special Bench of the Appellate Tribunal that was rendered prior to the judgment of the hon’b