Meaning of ” Levied”

Case Name : CIT  vs. Zoroastrian building society ltd.

Citation : [1955] 27 ITR 218 (BOM.)

Court : Bombay High Court

Section : 23

Meaning : The only natural and proper construction which could be placed upon the expression ‘levy’ used in the third proviso to section 9(2) of the 1922 act is ‘impose’ and not ‘collect’.

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