1964 (4) TMI 19 - SC - Income Tax

Whether it was the intention of the legislature to deprive a taxpayer of the plea that action for assessment or reassessment could not be commenced, on the ground that before the amending Act became effective, it was barred?

Held that:- The legislature has given to section 18 of the Finance Act, 1956, only a limited retrospective operation, i.e., up to April 1 1956, only. That provision must be read subject to the rule that in the absence of an express provision or clear implication, the legislature does not intend to attribute to the amending provision a greater retrospectivity than is expressly mentioned, nor to authorise the Income-tax Officer to commence proceedings which before the new Act came into force had by the expiry of the period provided become barred. Appeal dismissed.