https://www.taxtmi.com/caselaws?id=11249 The case involved a dispute over the levy of additional tax under section 143(1A) of the Income-tax Act, 1961, on an assessee claiming deductions resulting in a loss for the assessment year. The Tribunal ruled in favor of the assessee, citing uncertainty in the law and a retrospective amendment clarifying the levy of additional tax. The court upheld the Tribunal's decision, emphasizing the retrospective application of the law even in the absence of dishonest intention, as clarified in previous apex court rulings. en-us Mon, 27 Oct 2003 00:00:00 +0530 Mon, 03 Aug 2009 09:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11249 The case involved a dispute over the levy of additional tax under section 143(1A) of the Income-tax Act, 1961, on an assessee claiming deductions resulting in a loss for the assessment year. The Tribunal ruled in favor of the assessee, citing uncertainty in the law and a retrospective amendment clarifying the levy of additional tax. The court upheld the Tribunal's decision, emphasizing the retrospective application of the law even in the absence of dishonest intention, as clarified in previous apex court rulings. Case-Laws Income Tax Mon, 27 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11249