https://www.taxtmi.com/caselaws?id=765062 HC upheld the amendments to Section 17(2)(ii) of the IT Act, ruling the explanations (including the deemed rent/concession rates effective 1 Apr 2006) valid, constitutionally permissible and within legislative competence in fiscal matters. The court held the legislature may enact legal fictions and grant limited retrospectivity without offending Article 14, and the amendments do not constitute impermissible judicial override of earlier decisions. Challenges on repugnancy, unnecessary explanation or unconstitutionality were rejected. Issues regarding banks' liability to deduct/pay taxes were left open for future adjudication. en-us Mon, 20 Jan 2025 00:00:00 +0530 Mon, 01 Sep 2025 10:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=765062 HC upheld the amendments to Section 17(2)(ii) of the IT Act, ruling the explanations (including the deemed rent/concession rates effective 1 Apr 2006) valid, constitutionally permissible and within legislative competence in fiscal matters. The court held the legislature may enact legal fictions and grant limited retrospectivity without offending Article 14, and the amendments do not constitute impermissible judicial override of earlier decisions. Challenges on repugnancy, unnecessary explanation or unconstitutionality were rejected. Issues regarding banks' liability to deduct/pay taxes were left open for future adjudication. Case-Laws Income Tax Mon, 20 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=765062