Explanation 5 to Section 32 was specifically made applicable w.e.f. April 1, 2002 and was, therefore, prospective in nature.

(i)		Commissioner of Income-Tax v. Kerala Electric Lamp Works Ltd. & Anr. [2003] 261 ITR 721,
(ii)		Commissioner of Income Tax v. Sree Senhavalli Textiles P. Ltd. [2003] 259 ITR 77 and
(iii)		Shri Ram Nath Jindal and Shri Jaghjiwan Ram v. The Commissioner of Income-Tax, Haryana, Rohtak [2001] 252 ITR 590