Recently SC held that in exercising legislative power, the legislature by mere declaration, without anything more, cannot directly overrule, revise or override a judicial decision. It can render judicial decision ineffective by enacting valid law on the topic within its legislative field fundamentally altering or changing its character re...

The word income has a special significance in Income-tax machinery as the income-tax is a tax upon the 'income'. Section 2 (24) of the Indian Income-tax Act, 1961 [which corresponds to section 2 (6C) of the Income-tax Act, 1922] contains the inclusive definition of income. ...