SC: 'Clarificatory' Provision in Tax Laws Cannot Impose a New Condition Retrospectively - 12.08.2021

Supreme Court has observed while holding that Explanation 3C to Section 43B (d) of the Income Tax Act, 1961 is 'clarificatory' and does not add a new condition retrospectively, that a retrospective provision in a tax act which is "for the removal of doubts" cannot be presumed to be retrospective, even where such language is used, if it alters or changes the law as it earlier stood.

Tags : Supreme Court 'Clarificatory' Provision in Tax Laws

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