Case Law Details
Pankaja Kasturi Herbals India Pvt. Ltd. Vs DCIT (Kerala High Court)
In a recent development, the Madras High Court delivered a significant judgment on Section 245C(5) of the Income Tax Act, 1961, as amended by the Finance Act, 2021. The case in question, Pankaja Kasturi Herbals India Pvt. Ltd. Vs DCIT, saw the court remove the retrospective last date of February 1, 2021, and replace it with March 31, 2021. This decision is a result of the court’s analysis of Ext.P8 order in W.P(C) No. 25867 of 2023, Ext.P10 order in W.P(C) Nos. 26130 of 2023 & 30919 of 2013, and Exts.P39 to P45 in W.P(C) No. 28785 of 2023.
Background: The writ petitions were filed to challenge various orders, including Ext.P8 order in W.P(C) No. 25867 of 2023, Ext.P10 order in W.P(C) Nos. 26130 of 2023 & 30919 of 2013, and Exts.P39 to P45 in W.P(C) No. 28785 of 2023. The issue at hand had already been addressed by the Division Bench of the Madras High Court in a judgment dated November 17, 2023, in W.P(C) No. 13455 of 2021 and connected cases in M/s Jain Metal Rolling Mills v. Union of India [MANU/TN/6417/2023].
Madras High Court’s Decision: The Division Bench of the Madras High Court, in its judgment, made the following key rulings:
i. Amendment to Section 245C(5): Section 245C(5) of the Income Tax Act, 1961, as amended by the Finance Act, 2021, was read down. The retrospective last date of February 1, 2021, was removed, and March 31, 2021, was established as the new last date.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
Author Bio
