SC 2279: (1977) 4 SCC 98: 1977 SCC (Tax) 536 Decided On: 31.08.1977 Bench: 7 Judge Bench consisting of the following Justices of the Supreme Court of India: Chief Justice M. Hameedullah Beg.‚ Justice N. L. Untwalia‚ Justice P. N. Bhagwati‚ Justice P. S. Kailasam‚ Justice S. Murtaza Fazal Ali‚ Justice V. R. Krishna Iyer and Justice Y. V. Chandrachud. Brief facts of the case: The case dealt with the constitutionality of a certain pattern of sales tax legislation‚ calculated to counter
Premium Legislature United States Law
Soda Tax: The Beginning of the End The government plans to tax sugary drinks to lower consumption and reduce obesity rates. It is a tax that is justified‚ because a high majority of its consumers are obese and our government believes they should step in and do something about it. There are positive aspects of a soda tax‚ but it would also be a violation of freedom of choice‚ with many other red flags as well. The government simply‚ has too much involvement with our personal lives. Placing a
Premium Small business Nutrition Obesity
Tax file memorandum Subject: Profit or Loss from business I. Facts: In early 2010‚ Walter Hodges became interested in the real estate market so he initiated his investigation into the real estate market. Mr. Hodges intended to acquire real estate with the intentions for investment or rental. Mr. Hodge has no previous knowledge or exposure to any real estate rental or investment industry. As a result‚ Mr. Hodges began in Spring 2010 to advertise and expose his business through
Premium Tax Property Business
the report is an exploration of a career option and a Tax Auditor at Canada Revenue Agency. The purposes of this report are to not only prepare myself for the position by examining and learning but also introduce a different field of work to colleagues All residents in Canada must pay a tax and Canada Revenue Agency (CRA)‚ formally known as Revenue Canada‚ is a federal agency that has as its main function the administration of Canadian tax laws for most of the provinces and territories of Canada
Premium Tax Audit Financial audit
MEMORANDUM To: S. Partner‚ C.P.A. From: Nicole J. Badalamenti‚ J. Accountant Date: August 27‚ 2012 Subject: Mr. B. Potato I FACTS Mr. B. Potato‚ a wealthy real estate investor‚ recently purchased a house on a parcel of land for $400‚000. The house was appraised at a value of $300‚000 and the land had an appraised value of $100‚000. Mr. Potato plans to tear down the house and replace it with a new house worth $1‚500‚000 with the intentions of living in
Premium Property Tax Taxation in the United States
Chapter 6 Tax matters 1、 Why have tax? The Collins Concise English Dictionary (1992. P 1383) defines the word “tax” as: “a compulsory financial contribution imposed by a government to raise revenue‚ levied on income or property‚ on the prices of goods and services‚ etc. and to levy a tax on (persons‚ companies‚ etc.)” (Clinton Alley‚ 2008). there are several reasons can explain the existence of tax: The main function of taxation is the fiscal one. It is through fiscality that taxes play their
Free Tax
Afghanistan’s state-building and reconstruction agenda. International experience suggests that the larger the tax gap (the difference between the taxes actually paid and what should be paid according to existing laws and statutes)‚ the more radical are the changes needed. With a tax gap on the order of 60%‚ Afghanistan needs to adopt a comprehensive strategy including revamping of the tax administration in order to obtain significant improvements in compliance. Based on the more detailed analysis
Free Tax Taxation
GHANA Introduction & Definition of taxation: To tax (from the Latin taxo; "I estimate") is to impose a financial charge or other levy upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that failure to pay is punishable by law. A tax may be defined as a "pecuniary burden laid upon individuals or property owners to support the government [...] a payment exacted by legislative authority." A tax "is not a voluntary payment or donation‚ but an enforced
Free Tax
Tax Research Exercise 1 1) 147(c)(2)(C)(iii)Insolvent farmer.—For purposes of clause (i)‚ farmland which was previously owned by the individual and was disposed of while such individual was insolvent shall be disregarded if section 108 applied to indebtedness with respect to such farmland. 2) Federal Tax Regulations‚ Regulation‚ §1.351-1.‚ Internal Revenue Service‚ Transfer to corporation controlled by transferor Click to open document in a browser Reg. § 1.351-1 does not reflect P
Premium Taxation in the United States Tax
ImRetiree Preference is towards 3% tax on retail sales. The ratio of tax distribution is most equitable in retail tax. I believe that every individual is responsible for contributing to the nation’s tax revenue despite age‚ but I believe that retirees should have the least contribution as they have already paid their dues to society from all the years they have previously worked. With this in mind‚ the retail tax is the fairest solution due to it being the most equal in distribution. Each group
Premium Property Tax Real estate