The Calcutta High Court on Tuesday adjourned hearing on a petition by BM Khaitan group company McLeod Russel India for six weeks. The defendants, the Income Tax Department, sought the adjournment. McLeod Russel India Ltd, world’s largest tea planter, had earlier filed a writ petition in the Calcutta High Court challenging the constitutional validity of the retrospective amendments to I-T Act. McLeod had contended that retrospective amendments are substantive, not clarificatory and made by the Union Government only to negate the Supreme Court ruling in the Vodafone case. The retrospective changes are violative of Article 14 (right to equality) and Article 19 (right to carry on business) of the Constitution, the company argued. The enactment of Finance Bill on May 28, the retrospective amendments made collection of taxes on offshore share transfers involving substantial Indian assets lawful.
McLeod Russel petition hearing adjourned
Kolkata, July 10: