Amendment In Finance Act Can't Retrospectively Affect Vested Right Of Taxpayer To Adjudicate Settlement Application U/S 245(D): Calcutta HC
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1 week, 6 days ago

Amendment In Finance Act Can't Retrospectively Affect Vested Right Of Taxpayer To Adjudicate Settlement Application U/S 245(D): Calcutta HC

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The Calcutta High Court recently reiterated that when the settlement applications were filed before the date on which the Finance Act 2021 did not come into effect, then taxpayers had vested right of preferring the application in absence of any statute prohibiting the said application. The Bench reiterated so, while referring to decision of Bombay High Court in case of Sar Senapati Santaji Ghorpade Sugar Factory Ltd. vs. Assistant Commissioner of Income-tax. Therefore, referring to the decision of Madras High Court, the Bench noted that all applications in respect of the appellants even in respect of cases arising between Feb 01, 2021 to Mar 31, 2021 shall be deemed as pending applications for the purpose of consideration by the Interim Board. Counsel for Appellant/ Assessee: Senior Adv J.P. Khaitan, along with Advocates Saumya Kejriwal, Ananya Rath, Debarghya Banerjee and Navin Mittal Counsel for Respondent/ Revenue: Senior Adv Vipul Kundalia and Advocate Soumen Bhattacharjee Case Title: Pradeep Kumar Naredi vs. Union of India Case Number: MAT 375 of 2002 Click here to read/ download the Order

Finance India Settlement Applications Application High Sec Act Bench Pending Applications Circular Feb Setcom 01 2021  01  2021  vested  bench  act  high  settlement  taxpayer  hc  finance  cant  right  retrospectively  applications  feb  calcutta  application

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Amendment In Finance Act Can't Retrospectively Affect Vested Right Of Taxpayer To Adjudicate Settlement Application U/S 245(D): Calcutta HC
Trending News
1 week, 6 days ago

Amendment In Finance Act Can't Retrospectively Affect Vested Right Of Taxpayer To Adjudicate Settlement Application U/S 245(D): Calcutta HC

Live Law  

The Calcutta High Court recently reiterated that when the settlement applications were filed before the date on which the Finance Act 2021 did not come into effect, then taxpayers had vested right of preferring the application in absence of any statute prohibiting the said application. The Bench reiterated so, while referring to decision of Bombay High Court in case of …

Retrospective Legislation Can't Affect Vested Rights Of Assessee: Bombay High Court
9 months ago

Retrospective Legislation Can't Affect Vested Rights Of Assessee: Bombay High Court

Live Law  

The Bombay High Court has held that retrospective legislation cannot affect the vested rights of the assessee.The bench of Justice K. R. Shriram and Justice Neela Gokhale has observed that when the Department has extended the last date from February 1, 2021, to September 30, 2021, it can only extend the deadline but cannot introduce a new concept of eligibility …

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