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ThynkTax /Tax Reference /Case Laws /AAR - Transitional 2025

AAR - Transitional 2025

Authority for Advance Rulings·2025·ITR
Facts

Multiple taxpayers sought clarification on transition between IT Act 1961 and 2025.

Issue

Which Act governs investments made in FY 2025-26 but claimed in FY 2026-27?

Held

Section 536 savings clause preserves 1961 Act treatment for investments made before April 1, 2026. New Section 123 (formerly 80C) applies prospectively.

Ratio

Savings clause is statutorily controlled - investments are governed by the Act in force at the time of investment, not at the time of claim.

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