Supreme Court · 2003 INSC 182 · Decided 25 March 2003
National Agricultural Co-Operative Marketing Federation of India LTD. and ANR. v. Union of India and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 182 · [2003] 3 S.C.R. 1
- Case number
- CIVIL APPEAL No. 16170/2001
- Decided
- 25 March 2003
- Bench
- RUMA PAL, B.N. SRIKRISHNA (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Constitution; Income Tax Act Section 80, 81
Headnote
Income Tax Act, 1961: Section 80 P(2)(a)(iii) with amendment in the Act (Act No. 11 of 1999): C Exemption-Profits and gains earned by Co-operative Societies marketing agricultural produce-Grant of deductions thereof-Amendment-Restriction of benefit of exemption to marketing of agricultural produce to-Writ petition dismissed by High Court-On appeal, held since legislature is competent to D amend the enacted law with retrospective effect, amendment is valid-The degree and extent of the unforeseeable financial burden being minimal, such amendment cannot be termed
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