https://www.taxtmi.com/caselaws?id=465413 The Gujarat High Court considered a challenge to the amendment to section 80-IB(9) and the Explanation inserted by the Finance (No. 2) Act, 2009 in the context of a production sharing contract for exploration, development and production of mineral oil. Following its earlier decision in Niko Resources, the Court held that the inserted Explanation was substantive in nature and could not operate retrospectively. It further held that the Explanation was arbitrary, breached the rule of law, and violated Article 14. The Explanation to section 80-IB(9) was therefore struck down as ultra vires, and the writ petitions were allowed. en-us Tue, 21 Apr 2015 00:00:00 +0530 Sat, 20 Dec 2025 22:28:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465413 The Gujarat High Court considered a challenge to the amendment to section 80-IB(9) and the Explanation inserted by the Finance (No. 2) Act, 2009 in the context of a production sharing contract for exploration, development and production of mineral oil. Following its earlier decision in Niko Resources, the Court held that the inserted Explanation was substantive in nature and could not operate retrospectively. It further held that the Explanation was arbitrary, breached the rule of law, and violated Article 14. The Explanation to section 80-IB(9) was therefore struck down as ultra vires, and the writ petitions were allowed. Case-Laws Income Tax Tue, 21 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465413