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2014 (12) TMI 1065 - BOMBAY HIGH COURTSettlement order by Income Tax Settlement Commission u/s 245D(1) - Rejection of applications for settlement for some of the AYs on the ground that there were no pending proceeding for those AYs – Held that:- As held in M/s. Shriniwas Machine Craft PVT LTD vs. The Income Tax Settlement Commission [2014 (1) TMI 1090 - BOMBAY HIGH COURT] even if it is assumed that the submission is correct, the submissions cannot be accepted that it should be read with retrospective effect particularly when the amendments of 2014 is specifically made effective from 1 October 2014 - the order under challenge has to be examined in the light of the law in force at the time when the application was filed and the impugned order was passed – the order of is upheld – Decided against assessee.
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