2017 (10) TMI 869

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.... Mr.V.S. Jayakumar, learned counsel for the petitioner and Mr.J. Narayanaswamy, learned counsel for the respondents. 2. The petitioner seeks for issuance of a Writ of Declaration declaring the provisions under Sections 3 and 4 of Taxation Laws (Amendment) Act, 2005, insofar as it seeks to deny the deduction under Section 80HHC in respect of profit and sale of DEPB scripts in case of exporters h....

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....nd at the same time, for depriving the benefit earlier granted to a class of the assessees whose assessments were still pending although such benefit will be available to the assessees whose assessments have already been concluded. In other words, in this type of substantive amendment, retrospective operation can be given only if it is for the benefit of the assessee but not in a case where it aff....

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.... given effect to prospectively only and these conditions would not operate retrospectively. At the same time, he accepts that the legal position would be that those exporters with turnover of rupees less than Rs. 10 crores and others like the respondents with turnover of more than Rs. 10 crores would be at par and both would be entitled to the benefits. 5. We find that in essence the High....