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2021 (2) TMI 1063 - HC - Income TaxNon appearance by assessee - Condonation of delay in filing Rectification application - HELD THAT:- Order, dismissing the appeal for non-prosecution, was passed by the Appellate Tribunal on 12.12.2014 [2014 (12) TMI 1366 - ITAT AHMEDABAD] whereas the Miscellaneous Application was filed on 23rd May, 2017. Appellate Tribunal took the view that with effect from 1st June, 2016, the period of limitation, during which the rectification application can be filed, is six months. Prior to the amendment, it was four years. The argument is that the new law of limitation which came into force with effect from 1st June, 2016, providing for a shorter period, cannot extinguish a vested right of action. In other words, the amendment has been made effective virtually in case of the assessee with retrospective effect. Though the amendment does not show that it is applicable with retrospective effect, however, the existing right has been extinguished with retrospective effect in case of the assessee. Strong reliance has been placed on the decision of the Supreme Court in the case of M./P. Steel Corporation [2015 (4) TMI 849 - SUPREME COURT] and a Division Bench decision of the Madhya Pradesh High Court in the case of District Central Co-op. Banik Ltd.[2017 (10) TMI 691 - MADHYA PRADESH HIGH COURT]. The Madhya Pradesh High Court has relied upon the decision of the Supreme Court in the case of M.P. Steel Corporation (supra).We have thought fit to pass this short order so that the respondent can respond to the same on the next date of hearing.
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