Tax bygones be gone

By recommending that retrospective amendments to tax laws be carried out only in “exceptional” instances, the Parthasarathi Shome Expert Committee has made a strong case for a benign approach to taxation in situations where the law renders itself to more than one interpretation. Any retrospective amendment, given the fact that the original drafting lends itself to duality of interpretations, carries with it an element of surprise from a taxpayer’s perspective. 

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