Among several others, the most frightening of all, are, - "DEEMING" and "INTENT"; all in the name of 'REFORMS' , claimed to have been aimed at 'economic development' !?
Intent could be of either of - alluded to the legislature or the taxpayer ?
Though not necessarily so, MORE SO always. For, what according to legislature IS or WAS the INTENTION BEHIND ANY ENACTMENT, tax payer will not be obliged to be in agreement but have the liberty to differ !
Be that as it may, the lowly AO has a totally different frame of mind, and view to take.
To ILLUSTRATE (for a sample, of quite a recent origin) :
GO TO Posts on FB* (+LInkedin)
Lastly @ https://www.facebook.com/swaminathanv3/posts/1611582275584719
Intent could be of either of - alluded to the legislature or the taxpayer ?
Though not necessarily so, MORE SO always. For, what according to legislature IS or WAS the INTENTION BEHIND ANY ENACTMENT, tax payer will not be obliged to be in agreement but have the liberty to differ !
Be that as it may, the lowly AO has a totally different frame of mind, and view to take.
To ILLUSTRATE (for a sample, of quite a recent origin) :
(ITO Vs. M/s Nupur Carpets Pvt. Ltd.
(ITAT Kolkata))
GO TO Posts on FB* (+LInkedin)
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