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What is Retrospective Taxation: Legal Criteria Explained about?
(I) Retrospective statutes are generally unconstitutional unless they only affect procedures or remedies without divesting rights. Tax laws can be applied retrospectively if they are clarifying existing taxes rather than imposing new ones. (II) The Supreme Court has ruled that statutes affecting substantive rights are presumed prospective, while those affecting procedures are presumed retrospective. A procedural statute cannot create new disabilities retrospectively. (III) Retrospective changes are allo
- Author
- muskan khatri
- Language
- EN