The Madras High Court has disposed of the writ petition filed by the famous Ramco Cements challenging the constitutionality of the Sections 115 WA to 115 WL of Income Tax Act, 1961 on the grounds that the said provisions have been removed from the statute.
The petitioner Ramco Cements seeks the issuance of a Writ of Declaration, declaring these provisions as ultra vires to Article 14 and 19(1)(g) of the Constitution of India.
The Sections 115 WA to 115 WL of the Income Tax Act, 1961, have come under scrutiny within the writ petition, raising questions about their constitutionality and compatibility with fundamental rights guaranteed by the Indian Constitution.
Mr.J.Balachander, the counsel representing the petitioners submitted that the provisions in question have been removed from the statute book by the Finance Act 2/2009, with effect from 1st April 2010.
The provisions in question pertain to various provisions related to the taxation of income from certain financial instruments and transactions.
The bench of Chief Justice Sanjay V. Gangapurwala and Justice D. Bharatha Chakravarthy held that “No consequential relief is claimed in the writ petition. As the writ petition is now only academic, we need not decide the prayer made in the writ petition.”
Thus, the writ petition was disposed of.
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