NATIONAL CO. LTD. CALCUTTA vs DEPUTY DIRECTOR OF TAX CREDIT (EXPORTS)CALCUTTA & ORS.

The Supreme Court upheld the validity of the Notifications issued by the Central Government under Sections 280ZE and 280ZC of the Income Tax Act, which denied tax credit certificates for goods exported after 5-6-1966. The Court found that there was no obligation on the Central Government to specify goods for tax credit certificates, affirming the government's discretion in this matter. The appeal was dismissed, affirming the Division Bench's ruling of the Calcutta High Court.