The Firm

Show Timings:

Friday: 10.30 pm, Saturday: 11.30 am

Sunday: 9:30am & 11.00pm

CNBC TV18
Network18

Gujarat HC: Retroactive Amendment Cannot Nullify Judgment

Published on Thu, Jul 12,2012 | 15:38, Updated at Thu, Jul 12 at 15:44Source : Moneycontrol.com 

In a recent judgment, in the case of Avani Exports v. Commissioner of Income Tax, the Gujarat High Court has struck down the retroactive amendment made to the provisions of the Income-tax Act, 1961 (‘the Act’) which classified and levied onerous conditions only on a particular sect of taxpayers to be eligible to claim benefits on exporting goods out of India.

The law was struck down broadly on two folds that while granting a benefit to taxpayers there cannot be unreasonable classification with unreasonable conditions and second, such an amendment cannot be retroactively made being substantial in nature.  More so, a retroactive amendment cannot be made to nullify the effect of an adverse judgment when the Revenue has an option to prefer appeal to a higher forum against such a judgment.

This Nishith Desai Associates alert analyses the Gujarat High Court judgment.

Click on the attachment for more...

Attachments : Tax Hotline - July.pdf
 
Twitter


 
Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.