{"id":43001,"date":"2024-05-21T19:49:10","date_gmt":"2024-05-21T14:19:10","guid":{"rendered":"https:\/\/itatonline.org\/digest\/ifgl-refractories-ltd-v-uoi-2024-296-taxman-553-cal-hc\/"},"modified":"2024-10-10T16:08:09","modified_gmt":"2024-10-10T10:38:09","slug":"ifgl-refractories-ltd-v-uoi-2024-296-taxman-553-cal-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/ifgl-refractories-ltd-v-uoi-2024-296-taxman-553-cal-hc\/","title":{"rendered":"IFGL Refractories Ltd. v. UOI (2024) 296 Taxman 553 \/463 ITR 649  \/ 338 CTR 73  (Cal.)(HC)"},"content":{"rendered":"<p>The assessee is\u00a0 incorporated on 7-9-2007, which established its unit on May, 2012, at Kandla Special Economic Zone, Gujarat, for manufacture of specialized refractories and commenced operations from May, 2012. It\u00a0 became eligible for claiming exemption under section 10AA, from the assessment year 2013-14 onwards.On 1-4-2018, an Explanation was inserted after section 10AA(1) by the Finance Act, 2017, with effect from the aforesaid date prospectively. On writ, the assessee contested the\u00a0<em>Explanation<\/em>\u00a0to section 10AA(1) inserted by the Finance Act, 2017 with prospective effect, as unconstitutional and allegedly violative of articles 14, 19(1)(<em>g<\/em>), and 265 of the Constitution of India. Court held that\u00a0 explanation after sub-section (1) of section 10AA, inserted by amendment with prospective from 1-4-2018, applicable in respect of the assessment year 2018-19 and subsequent years is constitutional and is a valid piece of legislation and is not arbitrary, discriminatory and is not violative of articles 14, 19 &amp; 265 of the Constitution of India.\u00a0 Circulars &amp; Notifications :\u00a0Circular No. 3 of 2008, dated 12-3-2008.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 10AA : Special Economic Zones-Constitutional validity-Explanation after sub-section (1) of section 10AA, inserted by amendment with prospective effect from 1-4-2018, applicable in respect of assessment year 2018-19 and subsequent years-Constitutionally valid.  [Art. 14, 19(1)(g), 226  265] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-43001","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bbz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=43001"}],"version-history":[{"count":3,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43001\/revisions"}],"predecessor-version":[{"id":46992,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/43001\/revisions\/46992"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=43001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=43001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=43001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}