Meaning of tax terms

Meaning of “As if “

Posted on by Prashant Thakur

Case Name : Cit vs. Williamson financial services 

Citation : [2007] 165 taxman 638 (sc)

Court : Supreme court

Section : 80HHC

Meaning : Rule 8(1) state that composite/integrated income shall be computed as if it was income derived from business. The words ‘as if’ stand for legal fiction.

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.

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