Taxing statute

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August undefined, 2024

WebDec 7, 2024 · The Supreme Court was emphatic in Rai Ramkrishna v. State of Bihar [TS-5003-SC-1963-O], about the power of the legislature in India to enact retrospective … Web4 Interpretation of Double Taxation Avoidance Agreements 15 5 “Explanation” and “Proviso” 18 6 Retrospective , Prospective or Retroactive 21 7 “May or Shall” and “Mandatory or …

STRICT CONSTRUCTION OF TAXING STATUTES – LLB Notes

WebJan 2, 2024 · Introduction. Traditionally fiscal laws have their own nuanced interpretation regime wherein strict interpretation of the statute and preference for literal meaning is the … WebDec 11, 2024 · The meaning of an expression is extended by way of Explanation and is curtailed by way of the proviso, sometimes more than one provisos and explanations … ist and pht time

Analysis of the Taxation Laws (Amendment) Bill, 2024

WebMar 1, 2013 · Income Tax Act 1947. Current version. as at 02 Apr 2024. Part 20B INTERNATIONAL AGREEMENTS TO IMPROVE TAX COMPLIANCE Part 21 MISCELLANEOUS FIRST SCHEDULE Institution, authority, person or fund exempted SECOND SCHEDULE … (a) in Singapore, means a declaration made under the Oaths and Declarations Act … Published Date - Income Tax Act 1947 - Singapore Statutes Online - AGC Allowances of 3 years or 2 years write‑off for machinery and plant, and 100% … sso.agc.gov.sg Current - Income Tax Act 1947 - Singapore Statutes Online - AGC Subsidiary Legislation - Income Tax Act 1947 - Singapore Statutes Online - AGC WebMay 17, 2024 · A taxing statute has to be interpreted in the light of what is clearly expressed : it cannot imply anything which is not expressed : it cannot import provisions in the … WebMar 11, 2024 · The statute must in its interpretation section provide for special meanings of the terms (i.e. the definition sections). If not provided by the statutes then technical words … if we are faithful to confess our sins

INTERPRETATION OF TAX STATUTES

WebJul 16, 2024 · It is also a cardinal principle of interpretation of taxing statute that a deeming fiction over a deeming fiction cannot be applied. 20. Notional Income or Deemed Income … WebMar 24, 2024 · The Petitioner is an authorized agent for sale of lotteries organized by the State of Punjab and challenged constitutional validity of GST on sale of lotteries under … if we are buried with christWebJul 18, 2024 · The statute of limitations for the relevant taxing authority to examine and challenge the tax position has expired; ASC 740-10-25-9. A tax position could be … if we are agreeable email

"WebAny taxation statute involves three stages firstly, the subject on which tax is levied or imposed, secondly, the assessment of the liability of assessee and lastly, the recovery … " - Taxing statute

Taxing statute

Interpretation of Taxation Statute - iPleaders

WebArtI.S8.C1.1 Taxing Power. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general … WebThe principle of strict interpretation of taxing statutes was best enunciated by Rowlatt J. in his classic statement in Cape Brandy Syndicate v I.R.C. (1 KB 64, 71): "In a taxing statute …

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WebIn construing penal statutes and taxation statutes, the Court has to apply strict rule of interpretation. The penal statute which tends to deprive a person of right to life and liberty … WebJul 25, 2024 · Construction of taxing statute: Statutes imposing taxes or monetary burdens are to be strictly construed. The logic behind this principle is that imposition of taxes is …

WebNov 1, 2015 · 18. Rule of Beneficial Construction. 19. Beneficial Construction If interpretation of a Fiscal enactment is open to doubt and two views are reasonably possible Most … WebApr 10, 2024 · Maxwell’s ‘Interpretation of Statutes’ has defined statute as the will of the legislature. Usually, ... also to the chaos and confusion that was brought about in inter …

WebThe court held that in taxation matters, the rule of res judicata, as embodied in Section 11 of Civil Procedure Code, 1908 (CPC) has no application. Each year’s assessment and … WebJan 18, 2024 · The court held that if the provision in question is an anti-avoidance one, the interpretation should seek to remedy the ill which the provision sought to curb/remedy. :: …

WebIn conclusion, in interpreting a taxing statute that giving taxpayer relief which is exception to the Act, it is strictly construed against the taxpayer. Interpretation of commercial term The …

WebMar 31, 2024 · A taxing statute has to be interpreted in the light of what is clearly expressed; it cannot imply anything which is not expressed; it cannot import provisions in the statute … ist and ph time converterWebInterpretation of Taxing Statutes A taxing statute is one which imposes taxes on income or certain other kinds of transactions. It may be in the form of income tax, wealth tax, sales … ist and ph timeWebMar 16, 2024 · A taxing statute is to be construed strictly. Lord Wensleydale said that the subject is not to be taxed without clear words for that purpose. Every Act of Parliament … if we are faithful and justWebJul 7, 2015 · It is that the subject is not to be taxed unless the words of the taxing statute unambiguously impose the tax upon him. It is necessary that this maxim should on … ist and pst time differenceWebSection 133A (Power of Survey) in the Income Tax Act, 1995 “ (2) An income-tax authority may enter any place of business or profession referred to in sub-section (1) only during … ist and pst differenceWebthe statute which imposes the liability on the taxpayer, there can be no burden to pay tax. Any taxation statute involves three stages, viz. - (a) First, the subject on which tax is levied … if we are datingWebApr 7, 2024 · The time honoured cannon of interpretation of tax statutes is to apply the literal rule. Rowlatt J. in CAPE BRANDY vs IRC (1921) 2K.B 403 held thus: “In a taxing Act, one … if we are being technical