https://www.taxtmi.com/caselaws?id=457831 The HC dismissed the appeal regarding retrospective application of Section 14A explanation inserted by Finance Act, 2022. Following precedent in Era Infrastructure case, the court held that the amendment takes effect from April 1, 2022, applying to assessment year 2022-23 and subsequent years only. The court relied on SC ruling that retrospective tax provisions for doubt removal cannot be presumed retrospective if they alter existing law, confirming prospective application of the amendment. en-us Tue, 16 Jul 2024 00:00:00 +0530 Fri, 27 Sep 2024 21:11:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=457831 The HC dismissed the appeal regarding retrospective application of Section 14A explanation inserted by Finance Act, 2022. Following precedent in Era Infrastructure case, the court held that the amendment takes effect from April 1, 2022, applying to assessment year 2022-23 and subsequent years only. The court relied on SC ruling that retrospective tax provisions for doubt removal cannot be presumed retrospective if they alter existing law, confirming prospective application of the amendment. Case-Laws Income Tax Tue, 16 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=457831