Detailed Explanation:

Answer: Option 2 — The Supreme Court of India is not constrained in the exercise of its powers by laws made by the Parliament.

Article 142 of the Constitution grants the Supreme Court plenary power to pass any decree or order necessary for doing 'complete justice' in any cause or matter pending before it. This extraordinary power is not subject to limitations or prohibitions contained in ordinary laws (statutes) enacted by Parliament. The Supreme Court has consistently held that while Article 142 cannot override express constitutional provisions, it is not restricted by statutory provisions.

Why other options are incorrect:
❌ Option 1: Article 329 places certain restrictions on court interference in electoral matters, but it does not grant the Election Commission absolute immunity from judicial review, nor does it relate to Article 142's plenary powers.
❌ Option 3: Under Article 74, the President must act on the 'aid and advice' of the Council of Ministers in all matters, including the declaration of Financial Emergency under Article 360; the President cannot act independently without Cabinet counsel.
❌ Option 4: This describes the federal distribution of legislative powers under the Seventh Schedule and provisions like Article 252, which governs inter-governmental legislative relations, not the Supreme Court's judicial powers under Article 142.

📝 Short Notes: Article 142 - Plenary Powers of Supreme Court

• Constitutional Basis: Article 142(1) empowers the Supreme Court to pass any decree or make any order necessary for doing 'complete justice' in any cause or matter pending before it.
• Scope: This is a residuary power that supplements all other powers of the Supreme Court and can be exercised when existing legal provisions are inadequate to do complete justice.
• Not Subject to Statutory Limitations: The power under Article 142 is not constrained by ordinary laws made by Parliament, as confirmed in landmark cases like Supreme Court Bar Association v. Union of India and Union Carbide Corporation v. Union of India.
• Constitutional Limitations Apply: While not bound by statutory laws, Article 142 cannot override express constitutional provisions or fundamental rights guaranteed under Part III.
• Examples of Use: Granting anticipatory bail in non-bailable offences, ordering inter-country adoption, dissolving marriage without the one-year waiting period, and environmental protection measures.
• Article 142(2): Empowers the Supreme Court to investigate and punish any person for contempt of itself.