https://www.taxtmi.com/caselaws?id=37557 The court held that the WTO was obligated to apply the retrospective amendment introduced by Act No. 32 of 1971, which excluded jewellery from exemption under s. 5(1)(viii) of the W.T. Act, despite the Tribunal's directions based on the pre-amended law. The amendment, effective from April 1, 1963, rendered the Tribunal's order inoperative, as the assessment process was still open for further inquiries. The court distinguished this case from previous decisions and concluded that the WTO was bound to apply the amended law, rejecting the petition with costs. en-us Tue, 06 Feb 1979 00:00:00 +0530 Tue, 30 Mar 2010 14:21:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37557 The court held that the WTO was obligated to apply the retrospective amendment introduced by Act No. 32 of 1971, which excluded jewellery from exemption under s. 5(1)(viii) of the W.T. Act, despite the Tribunal's directions based on the pre-amended law. The amendment, effective from April 1, 1963, rendered the Tribunal's order inoperative, as the assessment process was still open for further inquiries. The court distinguished this case from previous decisions and concluded that the WTO was bound to apply the amended law, rejecting the petition with costs. Case-Laws Wealth-tax Tue, 06 Feb 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37557