https://www.taxtmi.com/caselaws?id=49378 The SC held that section 18 of the Finance Act, 1956 had limited retrospective operation only up to April 1, 1956. The legislature did not intend to deprive taxpayers of the plea that assessment or reassessment actions were time-barred before the amending Act became effective. Without express provision or clear implication, the legislature cannot authorize Income-tax Officers to commence proceedings that were already barred by limitation before the new Act came into force. The appeal was dismissed. en-us Thu, 30 Apr 1964 00:00:00 +0530 Tue, 03 Jun 2025 17:21:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49378 The SC held that section 18 of the Finance Act, 1956 had limited retrospective operation only up to April 1, 1956. The legislature did not intend to deprive taxpayers of the plea that assessment or reassessment actions were time-barred before the amending Act became effective. Without express provision or clear implication, the legislature cannot authorize Income-tax Officers to commence proceedings that were already barred by limitation before the new Act came into force. The appeal was dismissed. Case-Laws Income Tax Thu, 30 Apr 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49378