Doctrine of ‘Fairness’ : Countering ‘Implied Retrospectivity’ of Fiscal Enactments

Fiscal legislations have, more often than not, been treated as a class in themselves in so far as the principles of statutory interpretation are concerned. The differences in their intent and application, contrasted from other legislations, is such that distinct principles have been evolved on interpretation of fiscal legislations which are sui generis, unique and also at times deviate from the general principles of statutory interpretation. A fairly recent decision of a five-judge bench of the Supreme Court in Vatika Township has sought to read in ‘fairness' as a principle in interpretation of fiscal legislations, which apparently traverses in a direction diametrically at variance with the hitherto consistently applied principles in this statutory space. This article explores the nuance of the decision and the wide ramifications as a potential outcome of the practical application of this principle