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Rule 8D of Income Tax Rules is Prospective & cannot be applied to AY prior to 2008-09
Case Law Details
- Case Name
- Commissioner of Income Tax Vs M/s Essar Telehoding Ltd. (Supreme Court of India)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- Supreme Court of India
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CIT Vs M/s Essar Telehoding Ltd. (Supreme Court of India)
Applying the principles of statutory interpretation for interpreting retrospectivity of a fiscal statute and looking into the nature and purpose of subsection (2) and subsection (3) of Section 14A as well as purpose and intent of Rule 8D coupled with the explanatory notes in the Finance Bill, 2006 and the departmental understanding as reflected by Circular dated 28.12.2006, we are of the considered opinion that Rule 8D was intended to operate prospectively.
FULL TEXT OF THE SUPREME COURT JUDGMENT / ORDER IS AS FOLLO...
