back the shares because of new provision introduced vide Section
115QA of the IT Act, viz., Buyback Distribution Tax ["BBDT"] from 01.06.2013
imposing ... remaining amount under Section 115 QA of the IT Act. Section
115QA was inserted in the Act and came to effect from 01.06.2013 and this
huge sum, the present demand cannot be made. The
explanation to Section 115QA of the Act was amended with effect from
01.06.2016. Post amendment ... Hence, the demand of
tax under Section 115QA of the Act retrospectively is not permissible in law.
12. It is next contended that admittedly
harmonious construction of Sections 2(22)(d) and 10(34A) , 46A
and 115QA of the Act. There was no prior notice issued to the
appellant
with regard to the applicability of Section 115QA of the I-T Act and to the
particulars provided as an annexure to the letter
under section 46A of the Act. Further, the subsequent amendment in section
115QA of the Act with effect from 01.06.2016 clearly indicates the legislative
intent ... same was done just prior to the introduction of section
115QA of the Act, being brought into force. It is further submitted that the
provisions
