The Finance Bill, 2008, has continued with the undemocratic tradition of making amendments to the Income Tax Act with retrospective effect. The ratio of the decision in the case of ACIT vs Balarampur Chini Mills Ltd is sought to be reversed through amendment in Section 115JB. The assessee has the right to know in advance the tax liability based on the law in force at a point in time. Retrospective amendments amount to changing the rules of the game after it?s over; this needs to be discontinued.
?Vijay Mullaji
Hub and haven
Shiv Sena boss Bal Thackeray?s discriminatory remarks against Biharis are intolerant. It?s unfortunate that Mumbai, the business hub of India, has also become a haven for such narrow-minded politicians. Their words and deeds are certainly not in the interests of Maharashtrians. Any publication or party inciting animosity and hostility towards some sections of society should be banned.
?P Senthil Saravana Durai, Hyderabad
Tipping the wink
As the Democratic presidential campaign moved to the March 4 states, it was Obama who forced Clinton to take a stand on Nafta, as it?s a live issue in Ohio (?Hillary or Obama: who?s better??, Mar 7). Her stand exposed Clinton to the charge that she runs away from her ?experience? whenever it is politically inconvenient. Apparently, what turned the tables on Obama is the impression marketed by the Clinton camp that his team had given the Canadian government ?the old wink-wink? on Nafta.
?Ranjan Seth, Mumbai
