S. 4: Charge of income-tax – Legislative power of retrospective amendment – Legislature cannot by way of introducing an amendment overturn a judicial pronouncement to declare it to be wrong or nullity – Rather Legislature can amend provisions of any statute to remove basis of judgment – Clause in statute – Prohibiting payment of interest on amount of security deposit is not arbitrary or violative of Article 14 of the Constitution of India. [Constitution of India , Art . 14 ]
State of Karnataka v. Karnataka Pawn Brokers Association (2018) 255 Taxman 12 (SC)