https://www.taxtmi.com/caselaws?id=18524 The High Court of Madhya Pradesh determined that the amended provisions of section 43B of the Income-tax Act, 1961 were retrospective in nature. The Court upheld the Tribunal's decision, emphasizing that the amendment was declaratory and procedural, not affecting vested rights. The Court dismissed the cases, ruling in favor of the Commissioner of Income-tax, Bhopal, and awarded counsel fees. The judgment highlighted the remedial purpose of the amendment to curb tax evasion practices and stressed the importance of finality in legal proceedings to prevent reactivation of stale issues. en-us Wed, 24 Jan 1996 00:00:00 +0530 Thu, 01 Oct 2009 13:54:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18524 The High Court of Madhya Pradesh determined that the amended provisions of section 43B of the Income-tax Act, 1961 were retrospective in nature. The Court upheld the Tribunal's decision, emphasizing that the amendment was declaratory and procedural, not affecting vested rights. The Court dismissed the cases, ruling in favor of the Commissioner of Income-tax, Bhopal, and awarded counsel fees. The judgment highlighted the remedial purpose of the amendment to curb tax evasion practices and stressed the importance of finality in legal proceedings to prevent reactivation of stale issues. Case-Laws Income Tax Wed, 24 Jan 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18524