VATIKA FAEMS PRIVET LID Vs. UNION OF INDIA

JUDGEMENT

(1.) (ORAL)IN this batch of writ petitions, the prayer made by the Petitioners is to the effect that the provisions of Section 245d (2a), Section 245d (2d), section 245d (4a) and Section 245ha (1) of the Income Tax Act, 1961 (for short the Act) be declared unconstitutional.

(2.) THE provisions under challenge relate to settlement applications made by the Petitioners to the Settlement Commission (for short the commission) under 245c of the Act prior to 1st June, 2007. Broadly speaking, the sections provide for the following:

(3.) THE provisions under challenge were introduced in the Act by the finance Act, 2007 with effect from 1st June, 2007 and this batch of writ petitions was filed in the last week of July, 2007. Between 26th July, 2007 and 30th July, 2007 we heard the interim applications for stay filed by the petitioners and passed interim orders to the effect that the settlement application filed by the Petitioners would not abate due to non-payment of interest on the additional tax and that the Commission should dispose of their settlement application on or before the cut-off date of 31st March, 2008 as postulated by the Finance Act, 2007.