Interpretation of taxing statute

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August undefined, 2024

WebIn a Taxation statute, if a word has a clear meaning, then in that case, the court is bound to follow the clear meaning even if such meaning results in absurd results. It is in legislature … WebDec 31, 2024 · the statutory provision is ambiguous, then our interpretation of the statute should pass muster as reasonable.’ \\jciprod01\productn\N\NYU\95-2\NYU201.txt …

RULES FOR INTERPRETATION OF TAXING STATUTES: A CRITICAL …

Webinternal or external aids to interpretation. There can be retrospective, prospective or retroactive operation of a provision. Many maxims are used for interpretation. While … WebRule of Interpretation applicable to Taxation Statute: Taxation statute is a fiscal statute which imposes the pecuniary burden on the taxpayer. So such statutes are construed strictly. Plain, clear and direct grammatical meaning is given. Where there are two possible outcomes then that interpretation is given which is in favour of assessee. adzes definition

Interpretation of Fiscal Statutes - Asia Law Portal - A forum for ...

Web(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 … WebThey deal with those matters which affect the whole community. 3) Remedial Statutes provides a remedy for infringement of private civil rights of an individual. Whereas Penal Statutes provides punishment for public wrong. 4) Remedial Statutes deals with such wrongful acts for which remedy is civil action. WebJan 18, 2024 · INTERPRETATION OF TAX STATUTE:: Section 44 of the 1999 Constitution vests citizens with the right to own property, however, Section 44(2)(a), 45 and 24 allow for derogations in justified circumstances… tax being one.:: We have noted earlier that there can be no imposition of tax where it is not provided for in the law.Flowing from this is the … adziambei property development

Landmark SC judgment on interpretation - CONSULTEASE.COM

WebSection 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 the hours at which such place is open for the conduct of business or profession and, in the case of any other place, only after sunrise and before sunset.”. WebThe court must look squarely at the words of the statute and interpret them. It must interpret a taxing statute in the light of what is clearly expressed. It cannot import provisions in the statue so as to supple any assumed deficiency. While equitable considerations are of no avail in the construction of a taxing statutes, a proper balance ... k5 bフルートWebSubject: Interpretation of Statute B.A.LL.B-Xth Sem Subject Teacher: Akhlaqul Azam Study Material of Unit-III(A) Topic: Interpretation of Penal Statutes Interpretation of Penal Statutes Penal Statutes may be defined as those statutes that impose penal liability on a person who is guilty of any offence. adzimafh.com

"WebThis is because taxing statutes need to be strictly construed.9 Another principle of statutory interpretation that is seen with respect to taxing statutes is that the courts must favour the assessee in case there is … " - Interpretation of taxing statute

Interpretation of taxing statute

Web3. Cardinal Rules for interpretation of taxing statutes . 3.1 Rule of literal interpretation . This is the most widely used Rule of Interpretation in taxing statutes. Some decisions … WebJul 25, 2024 · The mischief rule of statutory interpretation is the oldest of the rules. The mischief rule is a rule of statutory interpretation that attempts to determine the legislator’s intention. Its main aim is to determine the “mischief and defect” of the statute. The mischief rule was established in Heydon’s Case in 1584.

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WebIn the case of Cox v. Rabbits there is a frequently-quoted canon relating to the construction of taxing statutes; in this article the author discusses the various interpretations of this passage. First, the author examines the interpretation of the passage as meaning that a tax must be imposed in clear and unambiguous language, and that … WebMar 21, 2016 · The interpretation of statutes is very essential to the administration of justice. They are the tools that judges use to read meaning to provisions of the law in order to justify their decisions. Interpretation of statutes is a very important issue which is not made easy due to varying factors. One of them is that words do not usually have ...

http://www.ijlljs.in/wp-content/uploads/2015/08/8-ARTICLE-FOR-RULES-FOR-INTERPRETATION-OF-TAXING-STATUTES.pdf 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 has to look merely at ...

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 has to be given strict interpretation or else many innocent might become victims of discretionary decision making. Insofar as taxation statutes are concerned, Article […] WebJan 6, 2015 · According to Salmond ‘Interpretation or Construction’ means “the process by which the Courts seek to ascertain the meaning of the legislature through the medium of authoritative forms in which it is expressed.”. The main body of the law is to be found in statutes, together with the relevant statutory instruments and in case law as ...

WebJan 30, 2024 · Interpretation of Statutes - Taxation Statutes - In the taxing statute, it is the plain language of the provision that has to be preferred, where language is plain and is capable of determining ...

WebNov 18, 2024 · Statutory interpretation. Statutory interpretation is the process by which courts interpret and apply legislation. Some amount of interpretation is often necessary when a case involves a statute. Sometimes the words of a statute have a plain and straightforward meaning. But in many cases, there is some ambiguity or vagueness in … adzima funeralWebBASIC PRINCIPLES / RULES OF INTERPRETATION of TAXING STATUTE: Doypack Systems Pvt. Ltd. v/s. UOI [1998 (2) SCC 299] . The dominant purpose in construing a … adzin corporationWebThe term interpretation means “To give meaning to”. Governmental power has been divided into three wings namely the legislature, the executive and the judiciary. Interpretation of statues to render justice is the primary function of the judiciary. It is the duty of the Court to interpret the Act and give meaning to each word of the Statute. k5c ライカ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. … k5×k5、aフルートWebDec 20, 2024 · If there are two plausible ways of interpreting a taxing act, one of them must be recognised. Rowlatt J.’s iconic comment in Cape Brandy Syndicate v. I.R.C., best enunciated the notion of rigorous interpretation of taxation statutes: “When interpreting a tax statute, one should focus on the language that is presented in the statute itself. k5g-c-100a ドライバWebEvery taxing statute must contain three aspects; subject of tax, person to be taxed and the rate of tax. 2. ... It means interpretation of a statute in the widest possible meaning of the language permitted. The mischief in the … k5 c5 段ボールWebWilliam Barker, Statutory Interpretation, Comparative Law, and Economic Theory: Discovering the Grund of Income Taxation, 40 San Diego L. Rev. 821 (2003). This Article is brought to you for free and open access by the Faculty … k5f 大同メタル