Case Law Details
Vialle Alternative Fuel Systems Pvt. Ltd. Vs ITO (ITAT Delhi)
The bone of contention is the amendment to section 115JB of the Act by the Finance Act, 2009 w.r.e 01.04.2001 by which Explanation 1 to the section has been inserted. The book profit u/s 115JB of the Act had to be reworked out.
Court has held that beyond a period of 4 years, retrospective amendment u/s 115JB of the Act could not be a ground for reassessment. Such legal proposition requires no authority of law.
We are of the considered view that all the relevant facts were available on record and it could not be said that at the time when the assessee filed return, he had failed to disclose fully and truly all material facts necessary for assessment because the amendment which was introduced retrospectively was not there.
The law cannot contemplate the performance of an impossible act. For this proposition, we draw support from the decision of the Hon’ble Jurisdictional High Court in the case of SIL Investment Ltd 339 ITR 166.
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