https://www.taxtmi.com/highlights?id=89075 HC held that Explanation to Section 149 and Explanation 4 to Section 147, introduced by Finance Act, 2012, clarify retrospective applicability for assessment years beginning on or before 1 April 2012. The use of word "any" in the explanation is not restrictive. The court noted that previous judicial interpretations in Brahm Datt and Jyoti Traders may require reconsideration by a larger bench. The matter was directed to be listed for constitution of a larger bench to comprehensively examine the legislative intent behind the amendments to income tax assessment provisions. en-us Wed, 04 Jun 2025 08:40:40 +0530 Wed, 04 Jun 2025 08:40:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=89075 HC held that Explanation to Section 149 and Explanation 4 to Section 147, introduced by Finance Act, 2012, clarify retrospective applicability for assessment years beginning on or before 1 April 2012. The use of word "any" in the explanation is not restrictive. The court noted that previous judicial interpretations in Brahm Datt and Jyoti Traders may require reconsideration by a larger bench. The matter was directed to be listed for constitution of a larger bench to comprehensively examine the legislative intent behind the amendments to income tax assessment provisions. Highlights Income Tax Wed, 04 Jun 2025 08:40:40 +0530 https://www.taxtmi.com/highlights?id=89075