https://www.taxtmi.com/caselaws?id=200278 A statutory corporation may exercise only fiscal powers expressly conferred by its governing statute. The court treated the pilgrim levy as a tax, not a toll, and held that the municipality had no power to farm out its collection because the leasing power extended only to tolls actually authorised by statute. The contract also could not be justified as a lease of vested property, since the collection right was not vested property for that purpose. Estoppel could not enlarge statutory power, and no restitutionary relief was granted on the record. The impugned contract was therefore ultra vires and void. en-us Wed, 05 Oct 1932 00:00:00 +0530 Sat, 24 Mar 2018 16:11:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=200278 A statutory corporation may exercise only fiscal powers expressly conferred by its governing statute. The court treated the pilgrim levy as a tax, not a toll, and held that the municipality had no power to farm out its collection because the leasing power extended only to tolls actually authorised by statute. The contract also could not be justified as a lease of vested property, since the collection right was not vested property for that purpose. Estoppel could not enlarge statutory power, and no restitutionary relief was granted on the record. The impugned contract was therefore ultra vires and void. Case-Laws Indian Laws Wed, 05 Oct 1932 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=200278