Meaning of tax terms

Meaning of “Company”

Posted on by Prashant Thakur

Case Name : ITO Vs. Dinesh k. Shah

Citation : [1997] 223 ITR 68 (mad.)

Court : Madras High Court

Section : 275a to 280

Meaning : Section 278b of the act deals with offences committed by the companies. The definition of ‘company’ for the purpose of the said section includes ‘a firm’. Therefore, the word ‘company’ used in section 278b of the act has to be so understood as to include a firm.

Case Name : Sandeep S. Shah Vs. ITO

Citation : [2000] 73 itd 313 (mad.-Trib.)

Court : Itat-madras

Section : 88

Meaning : The word ‘company’ appearing in item (b) of section 88(2)(xv) would not include, aop, partnership and other combination of individuals.

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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