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2008 (1) TMI 360 - HC - Income TaxIn view of amendment in Section 143 (1A) amended retrospectively, proceeding u/s 154 initiated to demand additional tax - Appellant submits that no additional tax can be levied where the assessed income is at loss and therefore, by subsequent amendment, the liability cannot be fixed - law has been clarified by the Parliament by making a retrospective amendment in the statute – held that appellant cannot take benefit of the ratio laid down by SC in Hindustan Electro Graphites Ltd.
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