| COURT: | Bombay High Court |
| CORAM: | M. S. Sanklecha J, Sandeep K. Shinde J |
| SECTION(S): | Wealth-tax Act |
| GENRE: | Domestic Tax |
| CATCH WORDS: | constitutional validity, wealth-tax |
| COUNSEL: | Dr. Abhinav Chandrachud |
| DATE: | April 2, 2018 (Date of pronouncement) |
| DATE: | April 16, 2018 (Date of publication) |
| AY: | - |
| FILE: | Click here to view full post with file download link |
| CITATION: | |
| S. 40(3) Wealth-tax: Law on whether Parliament has legislative competence to tax land and buildings which are in List-II of the 7th Schedule and whether the classification of "companies in which the public are not substantially interested" is arbitrary and violative of Article 14 of the Constitution explained (Imp constitutional law principles laid down) | |
Section 40(3) of the Act bringing to tax land and building which is not used for business purposes by companies in which public are not substantially interested to tax under the Wealth Tax Act and leaving out those land and buildings which are used for business purposes by companies in which public are not substantially interested from the charge of wealth tax under the Act is a reasonable classification
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