R.K. Garg & Ors. vs The Union Of India & Ors.

Authority: Supreme Court Date: 1981-10-20 Acts: Special Bearer Bonds (Immunities and Exemptions) Act, 1981; Special Bearer Bonds (Immunities and Exemptions) Ordinance, 1981; Income Tax Act, 1961; Wealth Tax Act, 1957; Gift Tax Act, 1958; Constitution of India Result: Revenue Citation: (1981) 25 CTR (SC) 406 : (1981) 133 ITR 239 (SC) : (1981) 7 TAXMAN 53 Justices: Y.V. Chandrachud, C.J.; P.N. Bhagwati, S. Murtaza Fazal Ali, Amarendra Appeal No: Writ Petn. Nos. 355, 360, 863, 994 & 3624 of 1981
Whether the Special Bearer Bonds (Immunities and Exemptions) Act, 1981 and the corresponding Ordinance are constitutionally valid under Article 14 of the Constitution and whether the President had the power to issue the Ordinance under Article 123 of the Constitution --- Held Yes, the Act and Ordinance are constitutionally valid and the President had the requisite power under Article 123.

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