Amendment of Section 14A For Removal of Doubts Is Held to Be Prospective Subject to Final Decision by SC

PCIT Vs Era Infrastructure (India) Ltd. (Delhi High Court) Delhi high court negating dept stand about  retrospective amendment plea for sec 14A explanation added by finance act 2022 in authors opinion it should  ably address the much created confusion from revenue side. RELEVANT EXTRACT 8. Consequently, this Court is of the view that the amendment of Section 14A, which is “for removal of doubts” cannot be presumed to be retrospective even where such language is used, if it alters or changes the law as it earlier stood. 9. Though the judgment of this Court has been challenged and is pendi...