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Explanation to section 14A inserted vide Finance Act, 2022 has prospective effect: Gauhati HC
Case Law Details
- Case Name
- Williamson Financial Services Limited Vs CIT (Gauhati High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2012-13
- Courts
- All High Courts, Gauhati High Court
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Williamson Financial Services Limited Vs CIT (Gauhati High Court)
Gauhati High Court held that Explanation inserted to section 14A vide the Finance Act, 2022 is applicable prospectively and order holding that the said insertion is clarificatory and hence retrospective in nature is erroneous.
Facts- The appellant, Williamson Financial Services Limited, is a Company, incorporated under the Companies Act, 1956, engaged in the business of Lease Financing, Financial Advisory and Capital Market Operations. The case of the appellant Company was selected for scrutiny through CASS and a notice u/s. 143...
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