RP Act 1951 | High Court Has No Power To Extend Limitation Period Or Condone Delay In Filing Of Election Petition: Allahabad HC

The Gauhati High Court reaffirmed its stance on Section 14A of the Income Tax Act, reiterating that the explanation to this section applies prospectively. The court criticized the ITAT for contradictory rulings on this issue, which had created confusion for taxpayers and tax authorities. By clarifying the prospective application, the court ensures that taxpayers are not unfairly penalized for past actions based on new legal interpretations.