Can penalty for concealment taken amendment in law

This query is : Resolved

GAURAV KUMAR SRIVASTAVA (Querist)
Follow

10 January 2014 My question is can income tax department take penalty for concealment afer making change in law. My question is from the case of Vodaphone. There penalty is taken after making changes in law.

Kindly brief the case law.

Nikhil Kaushik

Nikhil Kaushik (Expert)
Follow

11 January 2014 there are case laws wherein it was held that penalty cannot be levied in such cases...but yes the factual matrix of the case did matter.

you can refer case of yahoo India at http://www.casansaar.com/judiciary-detail/No-concealment-penalty-for-retro-amendment-which-confirmed-two-views-on-allowances/1520.html

With regards to Vodafone, it is a mockery of judicial process...and the final word is yet to be heard on it till the settlement talks between India and vodafone are completed..

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok