Supreme Court of India · 2014-09-15
COMMR.OF INCOME TAX-I,NEW DELHI vs VATIKA TOWNSHIP P.LTD.
- Citation / case number
- SC 2007/36222
- Court
- Supreme Court of India
- Petitioner
- COMMR.OF INCOME TAX-I,NEW DELHI
- Respondent
- VATIKA TOWNSHIP P.LTD.
- Author
- CHIEF ,JAGDISH SINGH KHEHAR CHELAMESWAR,A.K. SIKRI,ROHINTON FALI NARIMAN
- Bench
- CHIEF JUSTICE,JAGDISH SINGH KHEHAR,J. CHELAMESWAR,A.K. SIKRI,ROHINTON FALI NARIMAN
Judgment text excerpt
The Supreme Court addressed the interpretation of the proviso to Section 113 of the Income Tax Act, 1961, determining whether it operates prospectively or has retrospective effect. The Court held that the proviso is clarificatory and curative in nature, thus applicable retrospectively. This decision resolves the legal ambiguity surrounding the applicability of the proviso in ongoing assessments and appeals, affirming the lower court's ruling in favor of the assessees.