https://www.taxtmi.com/caselaws?id=340739 The court condoned the delay in filing appeals for ITAT 178 of 2016 and ITAT 14 of 2017. The show-cause notice under Section 263 of the Income Tax Act was deemed valid, despite the appellant's contention. The Commissioner's directive for further inquiry into shareholders' identity and creditworthiness was upheld. The amended Section 68 of the Income Tax Act was held to have retrospective applicability. The court dismissed the appeals, affirming the Commissioner's directive and the retrospective applicability of the amended Section 68. en-us Tue, 07 Mar 2017 00:00:00 +0530 Sat, 17 Jun 2017 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=340739 The court condoned the delay in filing appeals for ITAT 178 of 2016 and ITAT 14 of 2017. The show-cause notice under Section 263 of the Income Tax Act was deemed valid, despite the appellant's contention. The Commissioner's directive for further inquiry into shareholders' identity and creditworthiness was upheld. The amended Section 68 of the Income Tax Act was held to have retrospective applicability. The court dismissed the appeals, affirming the Commissioner's directive and the retrospective applicability of the amended Section 68. Case-Laws Income Tax Tue, 07 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=340739