Section 144C is prospective in nature & is applicable from AY 2011-12

A.T. Kearney Ltd. Vs ADIT (ITAT Delhi) The Income Tax Appellate Tribunal (herein after referred to as “ITAT”), Delhi Bench vide it’s Order dated 20.05.2021 have observed that the assessment completed under Section 144C(13)/143(3) of the Income Tax Act, 1961 (herein after referred to as “Act”) is barred by limitation as Section 144C of the Act is prospective in nature. The facts of the case were that the the assessee herein challenged the validity of the impugned assessment order on the ground that the provisions of section 144C of the Act introduced by the Finance...