Fiscal Statutes - Definition - Law Dictionary Home Dictionary Definition fiscal-statutes

Definition :

Fiscal Statutes, in construing fiscal statutes and in determining the liability of a subject to tax one must have regard to the strict letter of the law and not merely to the spirit of the statute or the, substance of the law. If the Revenue satisfies the Court that the case falls strictly within the provisions of the law, the subject can be taxed. If, on the other hand, the case is not covered within the four corners of the provisions of the taxing statute, no tax can be imposed by inference or by analogy or by trying to probe into the intentions of the legislature and by considering what was the substance of the matter, A.V. Farnandez v. State of Kerala, AIR 1957 SC 657 (661): 1957 SCR 837.