Supreme Court of India · 1981-10-20
R.K. GARG ETC. ETC. vs UNION OF INDIA & ORS. ETC.
- Citation / case number
- SC 1981/63840
- Court
- Supreme Court of India
- Petitioner
- R.K. GARG ETC. ETC.
- Respondent
- UNION OF INDIA & ORS. ETC.
- Bench
- CHANDRACHUD, Y.V. (CJ),BHAGWATI, P.N.,GUPTA, A.C.,FAZALALI, SYED MURTAZA,SEN, AMARENDRA NATH
Judgment text excerpt
The Supreme Court upheld the constitutional validity of the Special Bearer Bonds (Immunities and Exemptions) Act, 1981, affirming that it does not infringe Article 14 of the Constitution. The Court established that the Act's classification is reasonable and serves a legitimate purpose of canalizing black money for productive use. The provisions granting immunities to holders of Special Bearer Bonds were deemed necessary to encourage investment of unaccounted wealth, thus supporting the national economy.