Foreign portfolio investment liberalisation extends listed equity access to all individual persons resident outside India, subject to limit monitoring...
Unsubstantiated exempt agricultural income claim sustains concealment penalty after disclosure only on departmental detection and no bona fide evidenc...
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Income tax returns are an important reference point for assessing annual income under the Motor Vehicles Act, but no rigid formula applies. For salaried claimants, the immediately preceding return will ordinarily suffice. For self-employed persons, the proper basis is the average of up to the previous three years' returns, read with the nature, growth and future potential of the business, initial losses or negative income, and other surrounding circumstances. Applying that approach, the deceased's construction business income could not be fixed by a mechanical average alone, so the annual income was reassessed at a higher figure and compensation enhanced with interest as awarded.
Income tax returns are an important reference point for assessing annual income under the Motor Vehicles Act, but no rigid formula applies. For salaried claimants, the immediately preceding return will ordinarily suffice. For self-employed persons, the proper basis is the average of up to the previous three years' returns, read with the nature, growth and future potential of the business, initial losses or negative income, and other surrounding circumstances. Applying that approach, the deceased's construction business income could not be fixed by a mechanical average alone, so the annual income was reassessed at a higher figure and compensation enhanced with interest as awarded.
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