1978 (7) TMI 96 - HC - Income Tax

Summary

The High Court of Calcutta held that Section 154(1)(bb) of the Income Tax Act, 1961 could be applied retrospectively to rectify a mistake in a penalty order for the assessment year 1963-64. The Court rejected the argument that the provision was not retrospective, stating that procedural laws are generally retrospective. The appeal by the assessee was dismissed.