https://www.taxtmi.com/caselaws?id=302136 The Supreme Court held that the Punjab Forward Contracts Tax Act, 1951, was beyond the legislative competence of the State Legislature as it did not fall under Entry 62 of the State List. Consequently, the Act was declared void and unconstitutional. The Court allowed the appeal, set aside the High Court's order, and directed the respondents to allow the petitioners to conduct their business without the restrictions imposed by the Act and its rules. The appellants were awarded costs in both the Supreme Court and the lower court. en-us Tue, 13 Sep 1960 00:00:00 +0530 Fri, 06 May 2022 13:02:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302136 The Supreme Court held that the Punjab Forward Contracts Tax Act, 1951, was beyond the legislative competence of the State Legislature as it did not fall under Entry 62 of the State List. Consequently, the Act was declared void and unconstitutional. The Court allowed the appeal, set aside the High Court's order, and directed the respondents to allow the petitioners to conduct their business without the restrictions imposed by the Act and its rules. The appellants were awarded costs in both the Supreme Court and the lower court. Case-Laws Indian Laws Tue, 13 Sep 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302136