The Union Of India & Ors. vs Gwalior Rayon Silk Mfg. (Wvg.) Co. Ltd.

Authority: Supreme Court Date: 1964-04-28 Acts: Indian Income Tax Act 1922, Constitution of India, Finance Act 1950, Part B States (Taxation Concessions) Order 1950, Madhya Bharat Regulation of Government Act No. 1 of 1948 Citation: (1964) 53 ITR 466 (SC) Justices: P.B. Gajendragadkar, C.J. & K.N. Wanchoo, M. Hidayatullah, K.C. Das Gu Appeal No: Civil Appeals Nos. 934 and 935 of 1963
Whether the exemption from taxation granted by the Ruler of Gwalior through an order and subsequent agreement constituted a binding legal obligation that survived constitutional changes and the extension of the Indian Income Tax Act to the state --- Held Yes. Whether such exemption was repealed by the extension of the Income Tax Act and Finance Act 1950 --- Held No.

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