https://www.taxtmi.com/caselaws?id=9724 A civil court decree rectifying a trust deed operates only prospectively and does not alter the tax position for earlier assessment years. Applying that rule, the Tribunal treated the trust's exemption claim as available only from the date of the 29 April 1981 decree and not for prior periods under the Gift-tax Act. The Revenue's challenge failed, and the exemption granted for the relevant gift-tax year was left undisturbed. en-us Mon, 20 Feb 2006 00:00:00 +0530 Mon, 29 Jun 2009 19:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9724 A civil court decree rectifying a trust deed operates only prospectively and does not alter the tax position for earlier assessment years. Applying that rule, the Tribunal treated the trust's exemption claim as available only from the date of the 29 April 1981 decree and not for prior periods under the Gift-tax Act. The Revenue's challenge failed, and the exemption granted for the relevant gift-tax year was left undisturbed. Case-Laws Income Tax Mon, 20 Feb 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9724