Generally, Retrospective Amendments Should Be Avoided : Montek

Plan panel Deputy Chairman Montek Singh Ahluwalia today said that generally changes to the laws should not be implemented retrospectively even as he termed the proposed amendment to the I-T Act to tax Vodafone-like deals as “appropriate”.

“I think, objectively, the change is not only appropriate one....it is something we have singled in the Direct Taxes Code (DTC). Going by general rules. But I agree with you that one should avoid retrospective amendments,” Ahluwalia told Karan Thapar in ‘Devil’s Advocate’ programme on CNN-IBN when asked why should this amendment be effected retrospectively.

From: http://ping.fm/l6OMz