Meaning of tax terms

Meaning of “Actual”

Posted on by Prashant Thakur

Case Name : D.M. Wadhwana Vs. CIT

Citation : [1966] 61 ITR 154 (cal.)

Court : Kolkata high court

Section : 43(5)

Meaning : The word ‘actual’ in explanation 2 to section 24(1) of the 1922 act means ‘real’ as opposed to ‘theoretical or probable’.

Prashant Thakur

The author has spent more than 30 years in the field of taxation. Wrote four books -3 on on Indian Tax Law and 1 on US tax law for cryptocurrency. Apart from https:taxworry.com , he also writes on https://irstaxapp.com which is for US tax laws. He is a tech enthusiast and manages a cloud computing company that publishes innovative software.

Leave a Reply