https://www.taxtmi.com/caselaws?id=19390 The High Court ruled in favor of the individual, holding that the Tribunal erred in applying section 64(1) with Explanation 3 retrospectively to include the income of the spouse derived from a partnership firm in the individual's assessment. The Court emphasized the absence of a retrospective application clause in the law and highlighted that the transfer occurred before the effective date of the Explanation. Consequently, the amended sub-section (1) of section 64 and Explanation 3 were deemed inapplicable to the case. The judgment favored the assessee, leading to the disposal of the reference application in their favor. en-us Wed, 21 Dec 1994 00:00:00 +0530 Thu, 05 Nov 2009 18:07:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19390 The High Court ruled in favor of the individual, holding that the Tribunal erred in applying section 64(1) with Explanation 3 retrospectively to include the income of the spouse derived from a partnership firm in the individual's assessment. The Court emphasized the absence of a retrospective application clause in the law and highlighted that the transfer occurred before the effective date of the Explanation. Consequently, the amended sub-section (1) of section 64 and Explanation 3 were deemed inapplicable to the case. The judgment favored the assessee, leading to the disposal of the reference application in their favor. Case-Laws Income Tax Wed, 21 Dec 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19390