https://www.taxtmi.com/caselaws?id=334786 The High Court ruled in favor of the applicant assessee on both issues, holding that the amendment to Section 214 of the Income Tax Act was applicable and that the order passed by the Commissioner of Income Tax under section 263 was not justified. The Court emphasized that the amendment was procedural and applied to all pending proceedings, entitling the applicant to interest under the amended provision. Consequently, the Court overturned the Tribunal's decision and disposed of the Reference with no order as to costs. en-us Tue, 15 Nov 2016 00:00:00 +0530 Mon, 21 Nov 2016 13:50:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334786 The High Court ruled in favor of the applicant assessee on both issues, holding that the amendment to Section 214 of the Income Tax Act was applicable and that the order passed by the Commissioner of Income Tax under section 263 was not justified. The Court emphasized that the amendment was procedural and applied to all pending proceedings, entitling the applicant to interest under the amended provision. Consequently, the Court overturned the Tribunal's decision and disposed of the Reference with no order as to costs. Case-Laws Income Tax Tue, 15 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334786