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2002 (7) TMI 92 - HC - Income TaxKarnataka Agricultural Income-tax Act, 1957 – Dissolution - In all these appeals the constitutional validity of the Explanation to section 26(4) of the Karnataka Agricultural Income-tax Act, 1957, introduced retrospectively with effect from April 1, 1975, by the Karnataka Taxation Laws (Second Amendment) Act, 1997 (Act No. 18 of 1997), falls for determination. - we are however, unable to accept that the retrospective nature of the Amending Act is valid. The Act, if any, for the reasons stated above can be held to be valid prospectively and not retrospectively as was held by the Supreme Court in Cawasji's case in similar circumstances.
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