Supreme Court · 1975 INSC 142 · Decided 28 July 1975
Madurai DISTT. Central Cooperative Bank LTD. v. The Third Income-Tax Officer, Madurai
- Court
- Supreme Court of India
- Citation
- 1975 INSC 142 · [1976] 1 S.C.R. 135
- Case number
- CIVIL APPEAL No. 1795/1970
- Decided
- 28 July 1975
- Bench
- Y.V. CHANDRACHUD, R.S. SARKARIA, A.C. GUPTA (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution Article 246(1), 13, 271; Income Tax Act Section 4, 81
Headnote
Constitution of India-Article 246(1)-7th Schedule List I Entry 82- lncome-tax Act 1961-Sec. 2(8), 4 & Sl(i)(a)-Finance Act 1963-Sec. 2(1) (a), 2(8), 3, Part I, First Schedule-Whether tax can exceed taxable inconie­ Finan<'e Act-Nature and scope of-Whether can impose taxing statute if a ground for _chalfenge-Busint.?ss inco1ne of a cooperative society doing banking-Whether additional surcharge a tax-Whether additional surcharge call be levied 011 inco1ne exenzpted from payment of tax. The appellant is a Cooperative Society engaged in the business of banking.
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