Section 245C(5) Of Income Tax Act Is Read Down By Removing Retrospective Last Date Of 1st Feb 21 As 31st March 21: Madras High Court

The Madras High Court has held that 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 the 1st February 2021, as the 31st March 2021.The bench of Chief Justice Sanjay V. Gangapurwala and Justice D. Bharatha Chakravarthy has observed that the Finance Act, 2021, was retrospective in nature. Those who have had...