https://www.taxtmi.com/caselaws?id=257920 The Supreme Court upheld the retrospective amendment to Section 143(1A) of the Income Tax Act, 1961, as constitutionally valid. The Court clarified that the provision applied to both profits and losses, aiming to prevent tax evasion. It emphasized that the burden of proof rested on the revenue to establish any attempt by the assessee to evade tax. The judgments of the Gauhati High Court were set aside, and the appeals were allowed without any order as to costs. en-us Tue, 24 Mar 2015 00:00:00 +0530 Sat, 18 Aug 2018 14:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=257920 The Supreme Court upheld the retrospective amendment to Section 143(1A) of the Income Tax Act, 1961, as constitutionally valid. The Court clarified that the provision applied to both profits and losses, aiming to prevent tax evasion. It emphasized that the burden of proof rested on the revenue to establish any attempt by the assessee to evade tax. The judgments of the Gauhati High Court were set aside, and the appeals were allowed without any order as to costs. Case-Laws Income Tax Tue, 24 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=257920