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Taxing statute

WebApr 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 … 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. (1 KB 64, 71): "In a taxing …

STRICT CONSTRUCTION OF TAXING STATUTES – LLB Notes

WebJan 30, 2024 · In order to further promote the reform of “streamlining administration, delegating power and improving regulation and services” in taxation system, constantly optimize Guangzhou’s business environment in taxation, and effectively resolve bottlenecks inconveniencing tax and fee payment, the Guangdong Provincial Tax Service of the State … 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 … midhurst community palliative care team https://holybasileatery.com

Construction of Taxing Statutes and Evasion of Statutes

WebInterpretation 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 … 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 … 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 … news roe you

Revisiting The Rules Of Interpretation Of A Beneficial Provision ...

Category:Retrospective Operations of Amendments in Taxation Laws

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Taxing statute

Subject: Interpretation of Statute B.A.LL.B-Xth Sem …

WebTax Statutes means any primary or secondary statute, instrument, enactment, order, law, by- law or regulation making any provision for or in relation to Tax. "TCGA" means the … 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 …

Taxing statute

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http://www.avadhlawcollege.com/wp-content/uploads/2024/06/Interpretation-of-Statutes-Unit-4.pdf 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 …

WebJan 25, 2024 · A taxing statute which violates equality by undue discrimination is void under article 14. 1. A taxing statute which imposes an unreasonable restriction (or even a … 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 …

WebA provision in a taxing statute granting incentives for promoting growth and development should be construed liberally; and since a provision for promoting economic growth has to … WebMar 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 …

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 …

WebJul 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 … newsroom 101 subscriptionWebMar 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 … news ronzulliWebTax Acts Income Tax Act Goods and Services Tax Act Property Tax Act Appraisers Act Economic Expansion Incentives Act Private Lotteries Act St midhurst fireworksWeb(2) If there are two reasonable interpretations of taxing statutes, the one that favors the assessee has to be accepted. The principle of strict interpretation of taxing statutes was … midhurst fire hotelWebMay 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 … news rolluphttp://law.uok.edu.in/Files/5ce6c765-c013-446c-b6ac-b9de496f8751/Custom/Interpretation_UNIT_IV.pdf newsroom abeille assurancesWebMay 18, 2015 · Every taxing statute must contain three aspects; subject of tax, person to be taxed and the rate of tax. Strict and favourable construction . Taxing enactment should be … newsroom 24x7.com