sales tax

 Vikas Agarwal v. SFIO

Introduction Trade license is the method to legalize a particular occupation from a specific area. It is managed to safeguard that the citizen is not enviably affected by strength, danger & nuisance by the unsuitable booming of a transaction. The…

Commissioner Of Income Tax v. Thirumalaiswamy Naidu & Sons.

In business, there are circumstances where a person might have acquired a liability, but later on, he need not have to spend it for one or other purpose. The Income Tax Act brings to tax such possibilities which are no more obligatory. The region brings into its ambit interest in cash or in-kind received by an individual by reduction or cessation of liability. The only demand is that the individual must have a deduction or allowance in his computation of income for the said liability in any previous years.