Retroactive application of section 142 clarifies that prior provisions govern earlier assessment years and related references. A transitional retroactivity clause preserves the pre amendment text of section 142 for the assessment year beginning in 1988-89 and earlier years, and ... Summary
Retroactive application of section 142 clarifies that prior provisions govern earlier assessment years and related references.
A transitional retroactivity clause preserves the pre amendment text of section 142 for the assessment year beginning in 1988-89 and earlier years, and requires that references to other provisions be construed as those provisions stood and were applicable in the relevant assessment year.
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