Amendment to sec. 150 allowing reopening of assessment on basis of Court proceedings has no retro effect

IT : Amendment made to sub-section (1) of section 150 which intends to lift embargo of period of limitation under section 149 to enable authorities to reopen assessments not only on basis of orders passed in proceedings under Act but also on order of a Court in any proceedings under any law has to be applied prospectively

from www.taxmann.com Latest Case Laws https://ift.tt/2MIJcde