SC judge seeks rethink on retrospective tax

Supreme Court judge Ujjal Bhuyan on Friday expressed serious concerns over retrospective application of taxing provisions, and called for a thorough reevaluation of these measures, saying that the same has significantly dented India’s image globally.

- Shruti Kakkar

Speaking at the release of 13th edition of Sampath Iyengar’s Law of Income Tax, justice Bhuyan, while highlighting the expectation of domestic and foreign investors, emphasised that investors expect stability in tax laws at the time of making investments and must not be subjected to the retrospective application of decade old laws.