Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2006 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (3) TMI 89 - KARNATAKA HIGH COURTConstitutional Validity of provisions of section 54F of the Income-tax Act, 1961 - contention of learned counsel for the petitioner that in the subsequent years exemption under section 54F of the Act was extended to two residential houses and, therefore, depriving during the assessment year 2000-01 of such an exemption by extending it to one residential house is discriminatory, violative of the fundamental rights and ultra vires the Constitution of India, cannot be accepted. - Central Government is empowered to have its own policy for allowing exemption - Each assessment year is an independent unit. The liability to tax and the exemptions provided in each assessment year may be different. This is entirely in the realm of Parliamentary discretion and policy. The objects and reasons for granting and withholding of exemption may vary from time to time. The same cannot be allowed to be questioned on the ground of discrimination. Therefore, the challenge to the validity of the aforesaid provision cannot be sustained
|