https://www.taxtmi.com/caselaws?id=282490 The amended definition of "market value" inserted into the Chhattisgarh Entry Tax law was held to operate prospectively from 01.04.2014 and not to govern assessments for earlier periods. The Court applied the settled rule that tax liability is determined by the law in force in the relevant assessment year unless retrospective effect is clearly expressed or necessarily implied. As the amendment and the consequential circular took effect only from the stated future date, the pre-amendment law continued to apply to periods before that date, and the impugned assessments and related demand notices were quashed. en-us Wed, 09 Aug 2017 00:00:00 +0530 Fri, 16 Aug 2019 14:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282490 The amended definition of "market value" inserted into the Chhattisgarh Entry Tax law was held to operate prospectively from 01.04.2014 and not to govern assessments for earlier periods. The Court applied the settled rule that tax liability is determined by the law in force in the relevant assessment year unless retrospective effect is clearly expressed or necessarily implied. As the amendment and the consequential circular took effect only from the stated future date, the pre-amendment law continued to apply to periods before that date, and the impugned assessments and related demand notices were quashed. Case-Laws VAT and Sales Tax Wed, 09 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282490