Tax on corporate capital gains framed as an aggregate computation combining income-tax and a separately calculated capital-gains charge. Section 115 prescribes tax computation where a company's total income includes capital gains, historically requiring an aggregate of income-tax on total ... Summary
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Tax on corporate capital gains framed as an aggregate computation combining income-tax and a separately calculated capital-gains charge.
Section 115 prescribes tax computation where a company's total income includes capital gains, historically requiring an aggregate of income-tax on total income reduced by capital gains and an additional tax component calculated specifically on the capital gains; successive Finance Acts substituted and omitted provisions, altering rate structures and separate treatment for gains relating to buildings or lands and for long-term capital gains.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.