https://www.taxtmi.com/caselaws?id=12135 The court upheld the constitutional validity of sub-section (1C) of section 54E of the Income-tax Act, 1961, introduced by the Finance Act, 1992. It found the amendment to be non-discriminatory under Article 14 of the Constitution, based on rational criteria. The court rejected the application of the doctrine of promissory estoppel, stating that the amendment was prospective from April 1, 1992, not retrospective. The writ petition was dismissed, and each party was responsible for their own costs. en-us Tue, 29 Oct 2002 00:00:00 +0530 Wed, 17 Feb 2010 19:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12135 The court upheld the constitutional validity of sub-section (1C) of section 54E of the Income-tax Act, 1961, introduced by the Finance Act, 1992. It found the amendment to be non-discriminatory under Article 14 of the Constitution, based on rational criteria. The court rejected the application of the doctrine of promissory estoppel, stating that the amendment was prospective from April 1, 1992, not retrospective. The writ petition was dismissed, and each party was responsible for their own costs. Case-Laws Income Tax Tue, 29 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12135