Petitioner challenged constitutional validity of section 292CC brought by Finance Act of 2012 giving retrospective effect. It was found that retrospectivity of said provision has no effect on case on hand, because search in case of assessee was conducted much after amendment and not by applying provision retrospectively. Further, it was otherwise clarificatory in nature therefore, challenge to constitutional validity of section 292CC was rejected. (AY. 2014-15 to 2017-18)
SRS Mining v. UOI (2022) 328 CTR 510 / 217 DTR 321 /141 taxmann.com 272 (Mad.)(HC)
S. 292CC : Authorisation and assessment in case of search or requisition-Separately in the name of each person-Validity-Search was conducted after introduction of section 292CC and not by applying provision retrospectively-Amendment is clarificatory in nature-Challenge to constitutional validity of section 292CC was rejected. [S. 132,132A, Art. 226]