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Commr.Of Income Tax-I,New Delhi vs Vatika Township P.Ltd on 15 September, 2014

11. Another submission is that if the said Act of 2011 which is amended with effect from 26th December 2013 is applied to the application for renewal, it will amount to retrospectively operating the said law, though there is no indication that the amended provision has a retrospective effect. The sum and substance of the contention is that once the licence is granted for a period of five years, the renewal is automatic as a matter of right. As held earlier, the application for renewal of licence is on par with a fresh application for grant of licence. Such an application has to be dealt with according to the law prevailing on the date of making the application for renewal. Therefore, it is impossible to accept the submission that the Act which is amended with effect from 26th December 2013 is being retrospectively applied to the application for renewal and therefore, the said argument deserves to be rejected and the law laid down by the Apex Court in the case of Vatika Township Private Limited (supra) is not applicable.
Supreme Court of India Cites 64 - Cited by 888 - A K Sikri - Full Document
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