https://www.taxtmi.com/acts?id=16391 Section 119 retrospectively deems valid all notices, levies, demands, assessments, collections and recoveries under the Income-tax Act, 1961 concerning income from transfers of capital assets in India occasioned by transfer of shares of foreign companies or by agreements outside India, prohibiting challenge on grounds of extraterritoriality and permitting recovery of taxes chargeable for prior periods; a proviso requires withdrawal or undertakings to withdraw judicial or investment-protection proceedings and waiver of remedies, with refunds, if any, permitted without payment of interest under section 244A. en-us Tue, 29 May 2012 13:57:09 +0530 Tue, 17 Aug 2021 10:38:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=16391 Section 119 retrospectively deems valid all notices, levies, demands, assessments, collections and recoveries under the Income-tax Act, 1961 concerning income from transfers of capital assets in India occasioned by transfer of shares of foreign companies or by agreements outside India, prohibiting challenge on grounds of extraterritoriality and permitting recovery of taxes chargeable for prior periods; a proviso requires withdrawal or undertakings to withdraw judicial or investment-protection proceedings and waiver of remedies, with refunds, if any, permitted without payment of interest under section 244A. Act-Rules F. Acts / Amendment Acts Tue, 29 May 2012 13:57:09 +0530 https://www.taxtmi.com/acts?id=16391