Opportunity to respond to jurisdictional reports is mandatory before customs settlement duty enhancement; connected applications require consistent ad...
Specific customs headings for scaffolding components prevail over general classification, invalidating misclassification proceedings and enabling with...
Liquidator appointment under Section 34 requires consideration of creditor recommendations, valid professional authorisation, and preservation of vali...
Income-tax exemption for specified regulatory fees and government grants applies subject to non-commercial activity and continuing compliance conditio...
Digital accessibility audit and remediation deadlines extended, while all other disability-compliance obligations for regulated entities remain unchan...
Page of 4803
Press 'Enter' after typing page number.
621 to 640 of 96047 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
The HC held that an orphan minor qualifies as an "individual" under the definition of "person" in Section 2(31) of the Income Tax Act. The contention that a minor must be capable of entering into a contract to be considered an individual was rejected. The Court found no basis to exclude an orphan minor from this classification, dismissing the argument that only minors with living parents qualify as individuals. The issue of whether the income earned by the petitioner is taxable was deemed inappropriate for determination in the present proceedings and left to the assessment authorities. The Court concluded that income of a minor, including an orphan, is not required to be clubbed with the guardian's income for tax purposes unless earned through the minor's own efforts, affirming the minor's independent tax identity.
The HC held that an orphan minor qualifies as an "individual" under the definition of "person" in Section 2(31) of the Income Tax Act. The contention that a minor must be capable of entering into a contract to be considered an individual was rejected. The Court found no basis to exclude an orphan minor from this classification, dismissing the argument that only minors with living parents qualify as individuals. The issue of whether the income earned by the petitioner is taxable was deemed inappropriate for determination in the present proceedings and left to the assessment authorities. The Court concluded that income of a minor, including an orphan, is not required to be clubbed with the guardian's income for tax purposes unless earned through the minor's own efforts, affirming the minor's independent tax identity.
Note: It is a system-generated summary and is for quick reference only.