https://www.taxtmi.com/caselaws?id=6436 The Court held that the second proviso to clause 2 of the Taxation Laws (Extension to Union Territories) (Removal of Difficulties) Order 2 of 1970 was ultra vires the Central Government's powers. The impugned proviso, which introduced the concept of "depreciation fictionally allowed," was found inconsistent with the Indian Income-tax Act. The retrospective application of the 1970 Order was not inherently invalid but the specific provisions were beyond delegated powers. The Court allowed the writ petitions, ruling against the revenue authorities and ordering the respondents to pay the petitioners' costs. en-us Thu, 07 Nov 1974 00:00:00 +0530 Sat, 07 Jun 2014 18:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6436 The Court held that the second proviso to clause 2 of the Taxation Laws (Extension to Union Territories) (Removal of Difficulties) Order 2 of 1970 was ultra vires the Central Government's powers. The impugned proviso, which introduced the concept of "depreciation fictionally allowed," was found inconsistent with the Indian Income-tax Act. The retrospective application of the 1970 Order was not inherently invalid but the specific provisions were beyond delegated powers. The Court allowed the writ petitions, ruling against the revenue authorities and ordering the respondents to pay the petitioners' costs. Case-Laws Income Tax Thu, 07 Nov 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6436