Supreme Court of India
Commissioner of Income Tax 5 Mumbai v. M/s. Essar Teleholdings Ltd. through its Manager
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What the Court ordered
We are of the considered opinion that Rule 8D was intended to operate prospectively.
Judgment, page 30
From the headnote
Income Tax Rules, 1962 – r.8D – Said rule providing for machinery to give effect to charging section, i.e. s.14A, Sub-sections (2) and (3) of Income Tax Act, 1961 – Nature of operation – Prospective or Retrospective – Plea of appellant-revenue that charging section i.e. s.14A being retrospective, the machinery provision,i.e. r.8D has also to be retrospective – Held: Provisions of s.14A, inserted by Finance Act, 2001, were fully workable without there being any mechanism provided for computing the expenditure incurred in relation to income which does not form part of the total income…
Authorities it was built on
- 2014 Commissioner of Income Tax (central)-1, New Delhi v. Vatika Township Private Limited
- 1962 Gursahai Saigal v. Commissioner of Income-tax, Punjab
- 2008 Commnr. of Income Tax-i, Ahmedabad v. Gold Coin Health Food Pvt. Ltd.
- 2016 Jayam & Co. v. Assistant Commissioner & Anr.
- 1975 Govinddas & Ors. Etc. Etc. v. Income Tax Officer & Another
- 1968 Keshavlal Jethalal Shah v. Mohanlal Bhagwandas & Anr.
- 1994 Commissioner of Wealth Tax v. M/s. Shravan Kumar Swarup and Sons, Etc. Etc.
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