AIR 1959 BOMBAY 477 ::(1959) 37 ITR 41 ::61 Bom LR 618 ::ILR (1959) Bom 1256

Bombay High Court

Hon'ble Judge(s): S. T. Desai, K. T. Desai , JJ

(A) Income-Tax Act (11 of 1922) , S.1— Taxing statute - Interpretation - Principles - . Interpretation of Statutes - Taxing Statutes In a taxing Act one has to look merely at what is clearly said. There is no room for any intendment. There is no equity about a tax. There is no presumption as to a tax. Nothing is to be read in, nothing is to be implied. One can only look fairly at the language used. One safe and infallible principle which is of guidance in these matters is to read the words through and see if the rule is clearly stated. If the language employed gives the rule in words of sufficient clarity and precision, no more requires to be done. Indeed, in such a case the task of interpretation can hardly be said to arise.(Para 9) Anno : AIR Man. I.T. Act, S. 1. N. 3. (B) Income-Tax Act (11 of 1922) , S.1— Amending Act altering law - Retrospective effect. Interpretation of Statutes - Retrospective operation The general rule about the interpretation of provisions said to be retroactive in their operation is that where a statute is passed altering the law it is to be presumed as intended to apply to a state of facts coming into existence after the Act. It is a fundamental and a firm....