Finance Minister Arun Jaitley on Thursday said the government has given an assurance to investors that it does not believe in retrospective taxation, and added that no new fresh liability from a back date will be created.
"No new fresh liability from a back date will be created," said Jaitley in an exclusive interview with ANI's Editor (News) Smita Prakash.
He further explained that retrospective taxation has been divided into three categories.
"For future, I have given a large assurance that this government does not believe in creating fresh liability of tax retrospectively. So, such an episode will not happen," Jaitley told ANI.
"In the second part, no new notices will be issued to parties. No assessing officer will issue a notice. They will report it to CBDT and it will decide on this issue. In third category, where notices have been issued and people have moved to court, we will wait for the outcome of the cases," he added. (ANI)
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