Retrospective legislation : There is no doubt that the Legislature has the power to make a law retrospective. This includes a power to give retrospective effect ... account of the retrospective amendent of section 35(2)(iv) .
49. Looking to the impact of the retrospective amendment as spelt out, in our view
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C/SCA/13134/2009 CAV JUDGMENT
the retrospective amendment to Section 80-IB(9) on the ground of
it being arbitrary ... amendment is not merely
clarificatory in nature, but is a substantive retrospective
amendment and inasmuchas it takes away vested rights, it is
Page
Section 120 in The Finance Act, 2017
120. Retrospective amendment of certain entries in First Schedule.
- In the Central Excise Tariff Act, in the First
representative that the WTO intended to take into account the retrospective amendment in s. 5(1)(viii) of the W. T. Act and the petitioner ... effect or retrospective legislation on the assessment proceedings and if retrospective legislation has to be given effect to the consequence of retrospective legislation is that
2508/Bang/2019
4The Ld.CIT(A) erred in holding that retrospective amendment of provision
without affect the charge of interest as on the date ... assessed, the following computation
of additional book profits offered of the retrospective amendment is
included:
Provision for Impairment of 16,00,00,000
Assets
Depreciation
provision made for bad and doubtful debts, in view of the retrospective
amendment. The petitioner accordingly, recomputed its book profit and
deposited ... inserted retrospective;
(c) the legislature cannot take back with retrospective effect any
benefit which it had granted;
(d) the retrospective amendment affects different assessees
differently
wealth following the Supreme Court's decision. Subsequently, the retrospective amendment of Section 5(1)(iii) came, neutralising the supreme Court's decision ... This amendment was made by the Finance (Nos. 2) Act, of 1971. But the amendment was expressly made to have retrospective effect from April
amendment itself. Such an amendment cannot be termed as a mere procedural one, so as to be retrospective and applicable to all pending matters ... produce grown by its members". When the validity of the retrospective amendment to Section 80P(2)(a)(iii) is challenged, the Apex Court affirming
submitted that appellant
had become liable to tax on account of retrospective amendment to Explanation to
Section 1 15JB of the Act & therefore interest ... 234C is mandatory in nature
even in case of the retrospective amendment brought to section 115JB of the Act.
18
24. The assessee during
Assessee further submits that TDS cannot be
fastened on a retrospective amendment to Section 9(i)(vii). He places reliance
on the decision ... that point of time i.e. relevant to the assessment
year. Retrospective amendment made by Finance Act 2010 w.e.f. 01.06.1976 in
Explanation
