K. Vinod Chandran, CJ.—The batch of writ petitions challenge notices issued under Section 148 of the Income Tax Act, 1961 (hereinafter referred to as the ‘Act’) and some of them also challenge the order issued under Section 144 read with Section 147 of the Act and the notice of demand issued pursuant to the assessment orders.

2. The question of law raised in the writ petitions, filed under Article 226 of the Constitution of India, is as to whether sub-section (5A) of Section 45 of the Act; inserted by the Finance Act, 2017, with effect from 01.04.2018, apply retrospectively. The petitioners also contend that if it is held to be prospective, as is the consequence of the express words employed in the Finance Act, then it would violate Article 14 of the Constitution of India on the ground of invidious discrimination between the same class of persons. It is also argued that sub-section (5A) has been brought into the Income Tax Act to remove unintended consequences of the earlier provision for computation of capital gains on a conjoint reading of Sections 2(47)(v), 45 & 48. In such circumstances, the same should be considered as retrospective, despite the recitals in the Finance Act indi