Income Tax Act, 1961

Income Tax Rules, 1962

Courts say.....

"Where the business of the assessee consists of hiring out machinery and/ or where the income derived by the assessee from the hiring of such machinery is business income, the assessee must be considered as having used the machinery for the purpose of business."

I.C.D.S. Ltd. vs. CIT (Supreme Court)


People say.....

"The difference between death and taxes is death doesn't get worse every time Congress meets."
Will Rogers

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  • Last Modified: Friday 05 February 2016.