Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Revision as of 00:22, 10 September 2026
The courts have generally held that direct taxes are limited to taxes on people (variously called capitation, poll tax or head tax) and property. (Penn Mutual Indemnity Denver colorado. v. C.I.R., 227 F.2d 16, 19-20 (3rd Cir. 1960).) All other taxes are known as "indirect taxes," because they tax an event, rather than a person or property per se. (Steward Machine Co. v. Davis, 301 U.S. 548, 581-582 (1937).) What turned out to be a straightforward limitation on the power of the legislature based on the main topics the tax proved inexact and unclear when applied to an income tax, which can be arguably viewed either as a direct or an indirect tax.
If any books of accounts, documents, assets found or seized belong for any other person, the concerned AO shall proceed against other person as provided u/s 153A and anjing 153B. The assessment u/s 153C should be completed with twenty one months from your end of the financial year when the search was conducted like assessment u/s 153A. orchestrawellington.co.nz Banks and bank become heavy with foreclosed properties when the housing market crashes.
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