Late fee under Section 234E of Income Tax Act not retrospective

Balram Corporate Services Pvt Ltd Vs ITO (ITAT Bangalore) Introduction: In an important decision, the ITAT Bangalore adjudicated on an appeal brought by Balram Corporate Services Pvt Ltd against the orders of CIT(A) pertaining to Assessment Years 2013-14 to 2015-16. The case revolved around the issue of the levy of late fee charges under Section 234E of the Income Tax Act, 1961. Analysis: The assessee contended that the CIT(A) erred in confirming the levy of fee/penalty/interest without taking into account the facts of the case, relevant judicial orders, and the non-retrospective applicabili...