11 January 2008

Experiences with the Income Tax Department - 2
[A single-page version of this blog can be seen here]

When one sets out to write about something as weighty as income tax, one is in two minds about how to proceed.

Should one launch straightaway into a discussion of the relative merits of treating certain moneys (sounds more dignified in the plural) as (a) business income or (b) compensation for transfer of a capital asset, with a delightful digression into whether, if the aforesaid b is true, the asset should be treated as a short-term or a long-term capital asset.

I am sorely tempted to adopt this course. For there is pleasure sure in hurling back Tyagi vs Shankar 1992 at an opponent who has the temerity to throw CIT vs Alakananda et al 1985 at you knowing fully well it has been superseded by Sanger vs Moni 1994.

But though it is likely that a discourse of this nature will be greeted with delirious cheering by a captive audience of card-carrying members of the National Association of Income-Tax Consultants, I rather suspect that the reader with one hand on a mouse will need no more urging to click on to more congenial reading.

I shall therefore endeavour to narrate my experience in plain English, except where a certain amount of jargon cannot be avoided, for which I ask in advance the forgiveness of the reader.

Much of this narrative will be told by way of letters written to and by various characters featuring in it, a method which readers will recall was used by Bram Stoker in Dracula. They will also agree that the method is appropriate because in both cases blood suckers are involved.

More in the next.

Category: Income-Tax


Philip George
Debunker of Keynesian, monetarist and Austrian economics

Buy my new ebook
Contact Me
Categories
Books
Communism
Economics
Google
Income-Tax
Internet
Kerala
Mathematics
Miscellaneous
Mobile-Sites
Science
Search-Engines
Archives
December 2016
October 2016
August 2016
July 2016
April 2016
March 2016
January 2016
December 2015
November 2015
October 2015
September 2015
August 2015
June 2015
May 2015
February 2015
November 2014
October 2014
August 2014
May 2014
April 2014
December 2013
October 2013
July 2013
May 2013
January 2013
November 2012
October 2012
August 2012
July 2012
June 2012
May 2012
March 2012
February 2012
January 2012
December 2011
November 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
August 2010
October 2009
May 2009
June 2008
March 2008
February 2008
January 2008
December 2007
August 2007
June 2007
May 2007