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TMI Blog2009 (9) TMI 418X X X X Extracts X X X X X X X X Extracts X X X X ..... d respondent issued recovery notice, which is challenged in this writ petition. Held that- the petitioner has not availed the statutory remedy within the statutory period of limitation and has thus allowed the assessment to become final. Thus the petition fails. - 1219 of 1998 - - - Dated:- 10-9-2009 - K. Raviraja Pandian, J. Shri Chandran Karuppiah, for the Petitioner. Shri Tholhappian, Government Advocate, for the Respondent. [Order]. - The petitioner seeks to quash the recovery notice issued by the third respondent dated 28-8-1996 and further direct the respondents to give effect to the judgment of the Supreme Court in the case of Vikas Sales Corporation v. Commissioner of Commercial Taxes, (1996) 102 STC 106 with ef ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eceived on the sale of REP licence. It is pertinent to note that the petitioner was a party to the said judgment as a petitioner in W.P. No. 7436 of 1992. In that judgment, the Division Bench has held that the respective assessing authority shall be at liberty to proceed further in making assessment where the proceedings have not been finalised and where the assessment has already been completed, the assessee could avail all statutory remedies before the appellate or revisional authorities by counting the statutory period of limitation as commencing from the date of the judgment, i.e., 4-4-1994. The petitioner did not pursue such statutory remedies, but has filed the present writ petition. Yet another factor to be noted is that the petition ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... making the law and not from the date of declaration by the Supreme Court. When a Legislature enacts a statute, it creates rights and obligations and therefore its operation can be prospective or retrospective depending upon the provisions of the statute. But when the Supreme Court gives a decision declaring the law, it does not create rights and obligations, but merely identifies and declares the pre-existing rights or obligations and declares true or correct position of law. Thus, it is the cardinal principle of construction for every statute is presumed to be prospective unless it is expressly or by necessary implication made retrospective in operation and every decision of the Supreme Court declaring the law as retrospective unless it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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