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Income Tax - Highlights / Catch Notes

Home Highlights February 2020 Year 2020 This

Settlement of cases - Period of limitation for rectification of ...


Legislature Can Grant, Revoke, or Regulate Rights, Including Limitation Periods for Rectifying Settlement Mistakes in Tax Cases.

February 15, 2020

Case Laws     Income Tax     HC

Settlement of cases - Period of limitation for rectification of mistake - if any right has been conferred by the Legislature, it equally has the right to take it away or prescribe reasonable conditions for the exercise of the right. The Legislature would be perfectly within its right to regulate any right conferred by it while imposing conditions or restrictions on its exercise.

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