https://www.taxtmi.com/caselaws?id=17863 The High Court upheld the constitutional validity of section 143(1A)(a)(B) of the Income-tax Act, 1961, dismissing the petitioner's challenge. The provision, aimed at preventing tax manipulation, was deemed compensatory rather than penal. The Court affirmed Parliament's authority to enact retrospective tax laws to combat tax evasion, ruling that the section was not unconstitutional. The petitioner's claims were rejected, and any security held was ordered to be refunded. en-us Thu, 25 Jul 1996 00:00:00 +0530 Fri, 25 Sep 2009 12:50:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17863 The High Court upheld the constitutional validity of section 143(1A)(a)(B) of the Income-tax Act, 1961, dismissing the petitioner's challenge. The provision, aimed at preventing tax manipulation, was deemed compensatory rather than penal. The Court affirmed Parliament's authority to enact retrospective tax laws to combat tax evasion, ruling that the section was not unconstitutional. The petitioner's claims were rejected, and any security held was ordered to be refunded. Case-Laws Income Tax Thu, 25 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17863