https://www.taxtmi.com/caselaws?id=39600 Section 59 of the Estate Duty Act, 1953, was held to create a substantive new power to call for a fresh account and reassess escaped property de novo, unlike section 62 which only allowed limited rectification and additional duty in specified cases. As a result, the provision was construed as prospective only, since no express language or necessary implication showed an intention to make it retrospective. Reopening assessments that had already become final before 1 July 1960 was therefore bad in law. en-us Fri, 09 Nov 1973 00:00:00 +0530 Mon, 19 Apr 2010 10:52:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39600 Section 59 of the Estate Duty Act, 1953, was held to create a substantive new power to call for a fresh account and reassess escaped property de novo, unlike section 62 which only allowed limited rectification and additional duty in specified cases. As a result, the provision was construed as prospective only, since no express language or necessary implication showed an intention to make it retrospective. Reopening assessments that had already become final before 1 July 1960 was therefore bad in law. Case-Laws Income Tax Fri, 09 Nov 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39600