https://www.taxtmi.com/caselaws?id=14414 The court held in favor of the assessee, allowing the benefit of exemption from capital gains tax on enhanced compensation received and invested after April 1, 1978, despite the original assessment year being 1974-75. The court emphasized that the prospective operation of the relevant provisions should not hinder the assessee from claiming the exemption, aiming to prevent unjust outcomes and promote the legislative objective of encouraging specified investments. The decision was made to ensure fairness and compliance with the legislative intent, with no costs ordered in the disposal of the reference. en-us Tue, 14 Nov 2000 00:00:00 +0530 Wed, 15 Jul 2009 16:48:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14414 The court held in favor of the assessee, allowing the benefit of exemption from capital gains tax on enhanced compensation received and invested after April 1, 1978, despite the original assessment year being 1974-75. The court emphasized that the prospective operation of the relevant provisions should not hinder the assessee from claiming the exemption, aiming to prevent unjust outcomes and promote the legislative objective of encouraging specified investments. The decision was made to ensure fairness and compliance with the legislative intent, with no costs ordered in the disposal of the reference. Case-Laws Income Tax Tue, 14 Nov 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14414