Finance Act Amendment Can't Penalize Assessee as Default Under Sec 195; No Retroactive Penalties Allowed.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....TDS u/s 195 - Retrospective amendment - The amendment brought in by the Finance Act with retrospective effect, which was passed in the year subsequent to the year under consideration, should not be considered for penalizing the assessee by treating him as an Assessee in default.....