https://www.taxtmi.com/caselaws?id=755287 Gujarat HC held that settlement applications filed between 01.02.2021 and 31.03.2021 under Section 245C are valid and maintainable. The court ruled that retrospective amendment through Finance Act 2021 cannot invalidate applications filed before the amendment came into effect on 01.04.2021. Petitioners had vested rights to file applications in absence of statutory prohibition. The provision of Section 245C(5) was read down to mean no applications after 01.04.2021 rather than 01.02.2021. Applications filed during the interim period shall be deemed pending before the Interim Board for Settlement and decided on merits. en-us Fri, 14 Jun 2024 00:00:00 +0530 Thu, 16 Jan 2025 16:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=755287 Gujarat HC held that settlement applications filed between 01.02.2021 and 31.03.2021 under Section 245C are valid and maintainable. The court ruled that retrospective amendment through Finance Act 2021 cannot invalidate applications filed before the amendment came into effect on 01.04.2021. Petitioners had vested rights to file applications in absence of statutory prohibition. The provision of Section 245C(5) was read down to mean no applications after 01.04.2021 rather than 01.02.2021. Applications filed during the interim period shall be deemed pending before the Interim Board for Settlement and decided on merits. Case-Laws Income Tax Fri, 14 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=755287