The case summarizes the law in a meaningful way in terms of reviewing the provisions and should be read by anyone who uses the term “to consider” in their contracts. In a curious case involving the flight of wild animals, the court analyzed the nature of a provision of a law. These provisions are those which give rise to a conclusive presumption as to the meaning of a particular word or expression. They are not trying to create a legal fiction. As mentioned earlier, the wording of the law tends to be vague, resulting in ambiguity, resulting in a difference in interpretation that may have different results. For example, in a purchase contract, the value of an apartment of 2bhk is set at Rs. 85 lakh, but according to the stamp duty authorities, the valuation of the apartment is Rs. 91 lakh, so it is assumed that the apartment for Rs. 91 lakhs were sold and capital gains are calculated on the basis of Rs. 91 lakh. This provision constitutes a legal fiction for using the value set by the State Stamp Valuation Authority as the sale value if the sale value is lower than the value set by the Stamp Valuation Authority.
An article or clause of a law, regulation or other legal instrument that expressly specifies how something is to be treated or considered. Mafatlal Gagalbhai & Co. Pvt. Ltd.c. CIT stated on February 19, 1979 that – “The word `as `reputed` is widely used in modern legislation. Sometimes it is used to enforce, for the purposes of a law, an artificial construction of a word or phrase that would not otherwise prevail. Sometimes it is used to make a particular construction unequivocal that might otherwise be dangerous. Sometimes it is used to give a complete description that includes what is obvious, what is uncertain, and what is impossible in the ordinary sense.
He found that a provision can look at things for what they are not. But something that is considered as such can also be considered an exhaustive description of the item. Therefore, a provision of the recital must always be interpreted in its context and in relation to the legislative objective. Often, we have come across the word “deemed” when reading a particular statute or statute. According to the meaning of the dictionary, a provision is a section or clause of a law, regulation or other legal instrument that indicates how to deal with or consider something. But in general, the notion of these provisions as provisions always leads to a certain degree of speculation and uncertainty in terms of interpretation. There is a general sense of perplexity unless you are particularly familiar with the use of legal jargon and have a significant influence on it. The court stated that it was absurd to interpret the provision in such a way that the certificate was a prerequisite for the protection that the law affords to the owners of the game. The divestment provision was not intended to deprive owners who had taken the necessary steps to sufficiently lock up game on the land. De: Provision in the Australian Law Dictionary » Section 2(2)(a) of the Act states that land is considered sufficiently closed if, according to a certificate from the Premier of the province, it is sufficiently closed to limit the wildlife species mentioned in the certificate to such land.
It was suggested that this was an exhaustive description of what was considered “sufficiently closed”. The meaning of the word “discretion” in a dictionary is “the freedom to decide what to do in a particular situation.” And that is exactly what these provisions mean. This can be better understood by reference to the law. The provision could not be extended to exclude any other form of evidence that the land was sufficiently enclosed. An article by Michael N. Kandev and John J. Lennard entitled “Interpreting and Applying Deeming Provisions of the Income Tax Act” provides a better overview of the understanding of the provisions. Similarly, they divided the provisions of Canadian tax law into four main categories based on the object or purpose of the fiction. The same was placed next to the Income Tax Act of 1961 in reference to the relevant sections for better understanding.
Understanding the purpose behind the introduction of fiction contributes greatly to the interpretation of these complex legal provisions. A reading of the relevant case law and the previous rulings that prevail helps to better understand what Parliament intended to communicate. As the saying goes, “Practice makes perfect,” and in this case, it`s no different. Search: `dejuing provision` in Oxford Reference » Home > Formulation Tips > Interpretation: The Nature of a Dejuing Provision [The Case is Eastern Cape Parks and Tourism Agency v Medbury (Pty) Ltd] Reading the simple legal version of a law or statute requires a considerable amount of skill and understanding of legal issues in advance. The law is deliberately made vague with words intended to give a broad meaning. Therefore, the creators of a law are faced with a Herculean task when it comes to building a law that: – This means that, despite the repeal of the Indian Income Tax Act of 1922, it is proven that all the procedures in progress before the new law will continue after the new law comes into force. Section 297(2) (Repeals and Savings) of the Income Tax Act, 1995 “(2) Notwithstanding the repeal of the Indian Income Tax Act, 1922 (hereinafter referred to as the Repealed Act)—Pursuant to section 119(1) of the Income Tax Act, 1995, the Central Board of Direct Taxation may provide instructions in a timely manner to other tax authorities, orders and instructions it considers appropriate for the proper administration of this Act. “May” in turn refers to the discretion conferred on the Commission. 1. Any lease or income from land located in India and used for agricultural purposes. 2.
Any income generated by such land through agricultural operations, including the processing of agricultural products, in order to make it suitable for the marketing or sale of such products. 3. All income attributable to an agricultural holding, provided that certain conditions relating thereto in Section 2(1A) are fulfilled. Any income from seedlings or seedlings grown in nurseries is considered agricultural income. 4. It has been held that income from the sale of forest trees spontaneously cultivated on land and entered in the land income does not constitute agricultural income within the meaning of Article 2(1)(a) of the EC Treaty. a of the Income Tax Act, for the following reasons: The term “agricultural land” in the Income Tax Act does not extend to spontaneously growing forests, where nothing is done to prepare the soil for planting trees and where tree growth is not promoted by tillage. To consider means to consider something as something with certain characteristics. If an act is considered a crime by law, it is considered a crime. If someone is held liable for the damage, they have to pay for it. A legal fiction, in simple terms, means accepting something as true for the sake of convenience. The idea is to process two transactions that differ legally but are similar in terms of economic impact. As to whether the game was indeed sufficiently closed, the case has yet to be brought before the courts.
A herd of 20 buffaloes escaped to the nearby farm when a drought lowered the level of the dam that separated the two plots. Also, start your investment journey with mutual fund plans and much more The word “may” means that the income tax officer has the authority to enter into the establishment of an appraiser under the conditions. Wild animals had fled a nature reserve in the Eastern Cape. The question was whether the land was “sufficiently closed” for the purposes of the Game Theft Act 1991. Section 50C of the Income Tax Act provides that in the event that a fixed asset (immovable or land or both) is sold, if the transfer receipt indicates a value lower than the valuation determined by the stamp duty authorities, the valuation assumed by the stamp duty authorities will be taken into account in order to obtain the amount of the capital gain resulting from such a transfer […].