Case Law Details
CIT Vs Kultar Exports (Delhi High Court)
In the present case the retrospective amendment was introduced after the original assessment. The introduction of the amendment occasioned the re-assessment. The reassessment order gave effect to the amendment. The assessee was content; it accepted this order which became final. In these circumstances, the reassessment order cannot be sought to be indicted in as much as the finality which attaches itself to the reassessment order cannot be affected, merely because a later
judgment of the Gujarat High Court held the amendment to be arbitrary, to the extent of its retrospectivity.
FULL TEXT OF THE JUDGMENT/ORDER OF DELHI HIGH COURT
The revenue, in this appeal under Section 260A of the Income Tax Act (hereafter “the Act”), challenges the order of the Income Tax Appellate Tribunal (hereafter the “ITAT”) on the ground that it erred in allowing the assessee to belatedly appeal against the orders of the Assessing Officer (hereafter “the AO”), on the basis of a judgment of
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