Elpee Chemicals Pvt. Ltd. Versus DCIT 9 (1), Mumbai - Income Tax - ITAT MUMBAI - Tri - Validity of assessment u/s 147 Change of opinion Held that - The assessee has included labour charges receipts, while computing the profits of the eligible business under the head sales - Once, the Hon ble Supreme Court interprets any law and lays down its decision on such interpretation of law then, such judicial decision applies retrospectively - The courts do not make any new law, they only discover and................................... Income Tax - Case Laws
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