Notification No. 48/2005 dated February 20, 2006 and Notification No. 8/2006 dated June 12, 2006 amending ‘Target Plus Scheme’ under EXIM Policy/Foreign Trade Policy 2004-2009 to restrict/reduce benefit to exporter retrospectively from 1-4-2005 were ultra vires, as already accrued benefit cannot be taken away by retrospective amendment; therefore, the said notifications were read down to be effective only from dates they are issued
SUPREME COURT OF INDIA
Directorate General of Foreign Trade
v.
Kanak Exports
A.K. SIKRI AND ROHINTON FALI NARIMAN, JJ.
CIVIL APPEAL NO. 554 OF 2006 AND OTHERS
OCTOBER 27, 2015
Annam D.N. Rao, Tarun Gulati, Sparsh Bhargava, Kishore Kunal, Shashi Mathews, Anupam Mishra, Neilhiloreth,Manish Rastogi, Rony O. John, Praveen Kumar, S.S. Shroff, Kamlendra Mishra, K.R. Sasiprabhu, Somiran Sharma, Vishnu Sharma, Biju P. Raman, Rohan Shah, Alok Yadav, Raghav Shankar, Aswin Dave, Swati, E.R. Kumar, Nitin Thukral, Galav Sharma, Sameer Parekh, Ms. Bina Gupta, Ms. Sushma Suri and V.K. Verma for the Appearing Parties