https://www.taxtmi.com/caselaws?id=285878 An amendment enlarging the rectification power in section 35 was held not to retrospectively authorise reopening assessments that had already become final before 1 April 1952. The Court applied the settled presumption against retrospectivity where vested rights and finality of completed assessments are affected, and read the deeming fiction strictly to the language used. It held that the earlier assessment could not be treated as containing a mistake apparent from the record merely because the firm's later assessment showed a different position, and the general deeming date in section 1(2) did not extend the amendment beyond its express terms. The rectification orders were therefore without jurisdiction and were quashed. en-us Fri, 09 Dec 1955 00:00:00 +0530 Fri, 31 Jan 2020 14:42:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285878 An amendment enlarging the rectification power in section 35 was held not to retrospectively authorise reopening assessments that had already become final before 1 April 1952. The Court applied the settled presumption against retrospectivity where vested rights and finality of completed assessments are affected, and read the deeming fiction strictly to the language used. It held that the earlier assessment could not be treated as containing a mistake apparent from the record merely because the firm's later assessment showed a different position, and the general deeming date in section 1(2) did not extend the amendment beyond its express terms. The rectification orders were therefore without jurisdiction and were quashed. Case-Laws Income Tax Fri, 09 Dec 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285878