Retrospective Date to Apply for Settlement before Interim Board for Settlement u/s 245C(5) of IT Act shall be March 31, 2021 for A.Y. 202-21 : Madras HC [Read Order]
Section 245C(5) of the Income Tax Act, 1961 (as amended by the Finance Act, 2021) is read down by removing the retrospective last date of 1st date of February, 2021 as 31st day of March, 2021
By Navasree A.M - On May 7, 2024 1:33 pm - 2 mins read
In a recent ruling, the Madras High Court observed that the retrospective date to apply for the Settlement before the Interim Board for Settlement under Section 245C(5) of Income Tax Act, 1961 shall be March 31, 2021 and not 1st February 2021. An order dated 27.12.2023 of the Interim Board for Settlement is challenged in…
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