Penalty Imposed for Incomplete Disclosure u/s 195; Curative Statute May Have Retrospective Effect.

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....Penalty u/s 271-I - Assessee has not furnished / provided information fully related to section 195 before the AO - The amendment though came into effect from 16th December 2015, but it is a settled law that if a statute is curative or merely declaratory of the previous law, retrospective operation is generally intended. - AT....