Retrospective rule making power permitted, subject to prohibition on prejudicial retrospective effect to assessees. Substitution of subsection (3) of section 46 grants the power to give retrospective effect to rules from a date not earlier than the commencement of the ... Summary
Retrospective rule making power permitted, subject to prohibition on prejudicial retrospective effect to assessees.
Substitution of subsection (3) of section 46 grants the power to give retrospective effect to rules from a date not earlier than the commencement of the Act, and provides that, unless the contrary is permitted, no retrospective effect shall be given so as to prejudicially affect the interests of assessees.
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