https://www.taxtmi.com/caselaws?id=16648 The court upheld the validity of the retrospective amendment to section 143(1A) of the Income-tax Act, allowing the levy of additional tax on assessed losses. The court rejected the petitioner's challenge to the constitutionality of the amendment, emphasizing the legislative intent to prevent tax evasion and ensure tax compliance. The judgment affirmed the importance of curbing misuse of loss declarations for tax avoidance purposes. The original petitions contesting the additional tax imposition were dismissed, with no costs awarded. en-us Wed, 04 Dec 1996 00:00:00 +0530 Wed, 09 Sep 2009 11:58:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16648 The court upheld the validity of the retrospective amendment to section 143(1A) of the Income-tax Act, allowing the levy of additional tax on assessed losses. The court rejected the petitioner's challenge to the constitutionality of the amendment, emphasizing the legislative intent to prevent tax evasion and ensure tax compliance. The judgment affirmed the importance of curbing misuse of loss declarations for tax avoidance purposes. The original petitions contesting the additional tax imposition were dismissed, with no costs awarded. Case-Laws Income Tax Wed, 04 Dec 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16648