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1973 (4) TMI 77 - SC - VAT and Sales TaxWhether a State Legislature has the legislative competence to pass a law for the deposit of that amount in the Government treasury? Held that:- Appeal dismissed. A trust is an obligation annexed to the ownership of property and arises out of confidence reposed in and accepted by the owner or declared and accepted by him for the benefit of another or of another and the owner (see section 3 of the Indian Trusts Act, 1882). It is plain that a law compelling deposit of money wrongly realised as sales tax cannot in pith and sub- stance be considered to be a law relating to trusts. The mere use of the word "trust" in sub-section (2) of section 29-A would not make the impugned law to be one relating to trusts.
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