Constitutionality of Finance Act 2017's s.71(3A) upholds restriction on set-off of house property losses as not arbitrary The SC upheld the constitutional validity of the Finance Act, 2017 amendment inserting s.71(3A) in the Income Tax Act, holding the restriction on set-off ...
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Constitutionality of Finance Act 2017's s.71(3A) upholds restriction on set-off of house property losses as not arbitrary
The SC upheld the constitutional validity of the Finance Act, 2017 amendment inserting s.71(3A) in the Income Tax Act, holding the restriction on set-off of house property losses permissible. The court found no violation of Art.14 or Art.19(1)(g), rejected the petitioner's reasonable-classification challenge, and held the amendment was not manifestly arbitrary or retrospective. The writ petition was dismissed and the Special Leave Petition refused.
"Delay condoned." The Court declined to entertain the petition and "Hence, the Special Leave Petition is dismissed." No respondent appeared or was represented. The order disposes of "Pending application(s), if any." No substantive merits reasoning is provided beyond the stated unwillingness to admit the petition; procedural relief was limited to condonation of delay and final dismissal without further adjudication on the merits. The dismissal, rendered by order, leaves no extant interlocutory applications and terminates the proceeding as recorded.
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