https://www.taxtmi.com/caselaws?id=284929 The court upheld the constitutional validity of the Interest Tax Act, 1974, dismissing the appeal challenging the legislative competence of Parliament, alleging double taxation, violation of Article 14, and Article 270 of the Constitution of India. The court found the Act fell within Parliament's legislative competence under Entry 97 of List-I, allowed for double taxation if explicitly enacted, justified the classification of credit institutions, and noted the sharing of tax proceeds was a separate matter. The appeal was rejected, and no costs were awarded. en-us Tue, 12 Aug 2003 00:00:00 +0530 Tue, 17 Dec 2019 17:37:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=284929 The court upheld the constitutional validity of the Interest Tax Act, 1974, dismissing the appeal challenging the legislative competence of Parliament, alleging double taxation, violation of Article 14, and Article 270 of the Constitution of India. The court found the Act fell within Parliament's legislative competence under Entry 97 of List-I, allowed for double taxation if explicitly enacted, justified the classification of credit institutions, and noted the sharing of tax proceeds was a separate matter. The appeal was rejected, and no costs were awarded. Case-Laws Income Tax Tue, 12 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=284929