Independent manufacturing undertaking eligibility preserves Section 80IA/80IB deductions, while machinery kept ready for use qualifies for depreciatio...
Assessing Officer Satisfaction Requirement Bars Penalty for Cash Receipt in Immovable-Property Sale Cases Where Initiation Lacks Recorded Satisfaction...
Self-assessed import entries remain appealable, while bona fide classification disputes without misdeclaration cannot justify confiscation or penaltie...
Actual-user customs exemption conditions permit turnkey project transfers when imported windmill components are exclusively used for installation and ...
Customs offence disqualification excludes civil contraventions, preventing refusal of a private bonded warehouse licence based solely on monetary pena...
The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
The Delhi High Court examined the constitutional validity of an amendment in the Income Tax Act, 1961, specifically u/s 31 of the Finance Act, 2017. The petitioner challenged the retrospective operation of the amendment which capped set-off of losses from house property income at ₹2 lakh. The court held that the legislative competency was not in question, and the amendment did not violate Article 14 of the Constitution as it applied uniformly to all taxpayers. The court also found that the restriction on set-off was a reasonable measure to prevent abuse of provisions. The petitioner's argument u/A 19(1)(g) was rejected as the restriction was proportionate and did not unreasonably curtail rights. The court cited precedent to support the legislature's wide discretion in fiscal matters. The petitioner's claim of promissory estoppel was dismissed. Ultimately, the court upheld the constitutionality of the amendment, ruling against the petitioner's arguments.
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