Detailed examination of ITA No. 1369/DEL/2021 where ICMC Projects Pvt. Ltd. contests late fees levied by ITD, CPC, Bengaluru for the third quarter of the assessment year 2014-15 concerning non-salary returns.
The case centers around the challenge against the imposition of late fees under the provisions of section 200A, as influenced by amendments in the Finance Act of 2015, effective from June 1, 2015.
The appellant argued against the retrospective application of these provisions, which they claimed affected their filings unfairly.
The tribunal addressed precedents and interpretations regarding retrospective tax laws, focusing on ensuring fair tax practices and adherence to statutory provisions.
The final judgment, pronounced on February 25, 2022, favored ICMC Projects, revoking the late fee charges previously levied, thereby setting a precedent on the non-retrospective application of certain tax amendments.
This case underscores the judiciary’s role in clarifying tax law applications, offering significant insights into how similar cases might be approached in the future.
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