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2015 (2) TMI 255 - HC - Income TaxLevy of additional tax on prima facie adjustment u/s 143(1) - Retrospectivity v/s prospectivity - Judgment of Associated Power Company Limited [1995 (11) TMI 5 - SUPREME Court] questioned as retrospective - Whether additional tax is leviable even if the liability to pay tax as per the decision of the Apex Court in case of Associated Power Company Limited accrued after filing of the return of Income Tax but before last date of filing of the Income Tax return? - Held that:- It is settled legal position that any judgment of the Apex Court interpreting a particular provision would have its applicability for the prospective effect unless it is expressly made retrospective in the said decision. The reference may be made to the decision of the Apex Court in case of Ashok Kumar Gupta and another V/s. State of U.P. and others reported in (1997 (3) TMI 602 - SUPREME COURT). Our answer to the question is to be in negative.
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