https://www.taxtmi.com/caselaws?id=9039 Omission of the annuity deposit provisions from the Income-tax Act did not extinguish liabilities that had already accrued before 1 April 1967. The court held that removal of a statutory provision by amendment can amount to repeal for section 6 of the General Clauses Act, 1897, so accrued rights and liabilities are preserved unless the legislature shows a contrary intention. Because the assessee had not exercised the option to opt out within time, the obligation to make the annuity deposit had already arisen, and the absence of an express saving clause did not destroy that liability. The demand and recovery proceedings were therefore treated as valid. en-us Tue, 05 Dec 1972 00:00:00 +0530 Sun, 22 Dec 2024 07:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9039 Omission of the annuity deposit provisions from the Income-tax Act did not extinguish liabilities that had already accrued before 1 April 1967. The court held that removal of a statutory provision by amendment can amount to repeal for section 6 of the General Clauses Act, 1897, so accrued rights and liabilities are preserved unless the legislature shows a contrary intention. Because the assessee had not exercised the option to opt out within time, the obligation to make the annuity deposit had already arisen, and the absence of an express saving clause did not destroy that liability. The demand and recovery proceedings were therefore treated as valid. Case-Laws Income Tax Tue, 05 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9039