https://www.taxtmi.com/caselaws?id=193316 The amendment to section 28 of the Jammu and Kashmir Land Acquisition Act reducing interest from six per cent to four per cent was treated as prospective only because the interest component formed a substantive part of the owner's compensation right. The reduced rate was not read as applying to pending acquisition proceedings or to land already acquired before commencement, as the amending Act contained no express or implied indication of retrospective effect. Section 28 was construed as mandatory, and the owner's entitlement to interest accrued when possession was taken and the award was made. Existing vested rights could not be curtailed without clear words, so interest remained payable at the pre-amendment six per cent rate. en-us Fri, 09 Sep 1966 00:00:00 +0530 Mon, 24 Jul 2017 10:13:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193316 The amendment to section 28 of the Jammu and Kashmir Land Acquisition Act reducing interest from six per cent to four per cent was treated as prospective only because the interest component formed a substantive part of the owner's compensation right. The reduced rate was not read as applying to pending acquisition proceedings or to land already acquired before commencement, as the amending Act contained no express or implied indication of retrospective effect. Section 28 was construed as mandatory, and the owner's entitlement to interest accrued when possession was taken and the award was made. Existing vested rights could not be curtailed without clear words, so interest remained payable at the pre-amendment six per cent rate. Case-Laws Indian Laws Fri, 09 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193316