https://www.taxtmi.com/caselaws?id=10675 Chapter XX-C of the Income-tax Act, 1961 was held not to operate retrospectively against an agreement for transfer executed on 7 March 1986. The Court followed the earlier view that Chapter XX-C and Rule 48L are prospective in effect, so a transfer completed before 1 October 1986 remains outside that regime. As the transaction fell under the earlier applicable chapter, the order made under section 269UD(1) lacked legal foundation and was set aside. en-us Thu, 16 Oct 2003 00:00:00 +0530 Tue, 21 Jul 2009 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10675 Chapter XX-C of the Income-tax Act, 1961 was held not to operate retrospectively against an agreement for transfer executed on 7 March 1986. The Court followed the earlier view that Chapter XX-C and Rule 48L are prospective in effect, so a transfer completed before 1 October 1986 remains outside that regime. As the transaction fell under the earlier applicable chapter, the order made under section 269UD(1) lacked legal foundation and was set aside. Case-Laws Income Tax Thu, 16 Oct 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10675