Definitions: interpretation of terms for profits and gains of business or profession clarifies transactional and succession scope. Clause 66 establishes definitions applicable to sections 26-66 concerning Profits and gains of business or profession, specifying the meanings of key terms (for example, 'agreement', 'paid', 'plant', 'service', 'specified derivative transaction', 'Specified Banking or Online Mode') and cross-referencing fiscal terms such as 'commission or brokerage', 'royalty', 'commodity derivative' and transaction taxes, as well as defining corporate succession concepts of 'predecessor entity' and 'successor entity' for tax continuity.
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.
Provisions expressly mentioned in the judgment/order text.
Definitions: interpretation of terms for profits and gains of business or profession clarifies transactional and succession scope.
Clause 66 establishes definitions applicable to sections 26-66 concerning Profits and gains of business or profession, specifying the meanings of key terms (for example, "agreement", "paid", "plant", "service", "specified derivative transaction", "Specified Banking or Online Mode") and cross-referencing fiscal terms such as "commission or brokerage", "royalty", "commodity derivative" and transaction taxes, as well as defining corporate succession concepts of "predecessor entity" and "successor entity" for tax continuity.
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