https://www.taxtmi.com/caselaws?id=258052 The Court held that the retrospective amendment to Section 80-IB(9) of the Income Tax Act, introduced by the Finance (No.2) Act, 2009, was unconstitutional and violative of Article 14 of the Constitution. It found that the term "mineral oil" includes "natural gas" and that the Petitioner had a vested right to the tax benefits, which could not be taken away retrospectively. The Court struck down the Explanation added to Section 80-IB(9) as it breached the rule of law and was deemed arbitrary. en-us Thu, 26 Mar 2015 00:00:00 +0530 Tue, 23 May 2023 15:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258052 The Court held that the retrospective amendment to Section 80-IB(9) of the Income Tax Act, introduced by the Finance (No.2) Act, 2009, was unconstitutional and violative of Article 14 of the Constitution. It found that the term "mineral oil" includes "natural gas" and that the Petitioner had a vested right to the tax benefits, which could not be taken away retrospectively. The Court struck down the Explanation added to Section 80-IB(9) as it breached the rule of law and was deemed arbitrary. Case-Laws Income Tax Thu, 26 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258052