Indian Kanoon - Search engine for Indian Law

"The pervading objective of taxation, in concert with other Government policies, is to minimise the general welfare. Ideally, taxes promote this end in both a passive and an active manner. Passively, their role is to underwrite the substantive functions of Government by providing the necessary funds as equitably, conveniently and economically as possible, and with the minimum restrictive effect pa production. Actively, they have become an engine of social and economic betterment, capable of reducing extreme inequalities of wealth of checking inflation and profiteering in wartime, and of contributing Jo stable employment at high levels in peace time ...... The sense of social responsibility and, with it, the role of Government have steadily grown.