Tag: retrospective amendment
The Taxation Laws (Amendment) Bill 2021 introduced in Lok Sabha to end retrospective tax The Government has introduced the Taxation Laws (Amendment) Bill 2021 to provide no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian …
Retrospective applicability of Black Money Act-Supreme Court quashed High Court order that Govt. made the Act retrospectively applicable from 01.07.2015 ABCAUS Case Law Citation:ABCAUS 3172 (2019) (10) SC In the instant case, the Union of India had challenged the interim order passed by the Division Bench of the Delhi …
The Legislature cannot overturn a judgment by way of introducing an amendment to make the judgment wrong or a nullity-Supreme Court declares retrospective amendment as illegal ABCAUS Case Law Citation: ABCAUS 2253 (2018) (03) SC The Karnataka Money Lenders Act, 1961 (M.L. Act) regulates and control the transactions …
In a recent judgment, ITAT Delhi has stated that a concluded assessment can not be reopening u/s 147/148 based on a retrospective amendment in Law as there could not be any failure on the part of the assessee to disclose fully and truly all material facts. Case Law Details: ITA Nos. …