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of <h1>Supreme Court Upholds Special Bearer Bonds Act 1981: Tax Immunities and Exemptions for Bond Holders Affirmed.</h1> The Special Bearer Bonds (Immunities and Exemptions) Act, 1981, replaced an earlier ordinance and was challenged but upheld by the Supreme Court. The bonds, sold domestically and internationally, are independent of tax systems, and holders are not required to disclose acquisition details in tax returns. The bonds are exempt from being considered in tax assessments, wealth declarations, or gift declarations. They cannot be seized or inventoried during tax investigations. Premiums on bond redemption are tax-exempt. The bonds are not accepted for tax arrears settlement, and no exemptions exist under the Estate Duty Act.
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