https://www.taxtmi.com/caselaws?id=49276 Chapter XXII-A's annuity deposit scheme is characterised as an income-tax measure because it operates as an alternative to immediate tax payment through income-tax machinery. Its possible borrowing element does not exceed Parliament's legislative competence or render the scheme colourable legislation; harshness alone does not invalidate a taxing measure. Restricting the scheme to higher-income groups, with graduated rates, an exemption threshold and age-based relief from additional tax, rests on reasonable classification rationally connected with mobilising savings and curbing inflation. The constitutional challenge therefore fails, including the Article 14 challenge and the challenge to the annuity deposit demand. en-us Wed, 06 Oct 1965 00:00:00 +0530 Tue, 19 Aug 2014 19:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49276 Chapter XXII-A's annuity deposit scheme is characterised as an income-tax measure because it operates as an alternative to immediate tax payment through income-tax machinery. Its possible borrowing element does not exceed Parliament's legislative competence or render the scheme colourable legislation; harshness alone does not invalidate a taxing measure. Restricting the scheme to higher-income groups, with graduated rates, an exemption threshold and age-based relief from additional tax, rests on reasonable classification rationally connected with mobilising savings and curbing inflation. The constitutional challenge therefore fails, including the Article 14 challenge and the challenge to the annuity deposit demand. Case-Laws Income Tax Wed, 06 Oct 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49276