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2003 (2) TMI 48 - HC - Income TaxIn these petitions they have called in question the constitutional validity of-- 1. Section 17(2)(vi) of the Income-tax Act, 1961, as amended by means of the Finance Act, 2001; and 2. Rule 3 of the Income-tax Rules, 1962, as notified by the fifth respondent by means of its notification dated September 25, 2001 - The intention of the Legislature is to bring to tax all perquisites unless specifically exempted by it. This is clear from the reading of sections 14, 15, 16 and 17 of the Act. Therefore, once this basic policy can be gathered from the provisions of the Act, it is not possible to hold that the impugned provision suffers from the vice of excessive delegation as it gives uncontrolled, unguided and arbitrary power to the executive. petitions are liable to be rejected.
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