https://www.taxtmi.com/caselaws?id=346122 The High Court upheld the permissibility of the inquiry into the source of funds for capital infusion before the amendments to Section 68 and Section 56 of the Income Tax Act became operational. The Court emphasized the retrospective application of the amendments and cited previous judgments supporting the legality of such inquiries pre-amendments. The appeal challenging the Tribunal's order was dismissed, as it was deemed consistent with established legal principles and prior decisions of the Court, with no substantial question of law found. en-us Fri, 24 Mar 2017 00:00:00 +0530 Fri, 04 Aug 2017 07:07:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346122 The High Court upheld the permissibility of the inquiry into the source of funds for capital infusion before the amendments to Section 68 and Section 56 of the Income Tax Act became operational. The Court emphasized the retrospective application of the amendments and cited previous judgments supporting the legality of such inquiries pre-amendments. The appeal challenging the Tribunal's order was dismissed, as it was deemed consistent with established legal principles and prior decisions of the Court, with no substantial question of law found. Case-Laws Income Tax Fri, 24 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346122