2019 (7) TMI 1574

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....espondent : Mr. Madhur Jain, Advocate ORDER 1. Learned counsel for the Respondent Assessee informs the Court that after the Assessment Year (AY) AY 1998-99 for which the Assessee had filed a return showing a loss, the Assessee continued to suffer losses and its business was ultimately shut down in 2001. 2. He further states that on account of the Income Tax Department ('Department') seeki....

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....ushree Gupta v. Union of India (2009) 317 ITR 107 where this Court considered the challenge to the constitutional validity of Section 271(1B) of the Act which had been inserted with retrospective effect from 1st April 1989 on the issue of the recording by the Assessing Officer (AO) of his satisfaction for the purpose of initiating penalty proceedings under Section 271(1)(c) of the Act. It is conte....