principle of this case is to examine the issue of the realisation of a capital asset and determine that the profit from the sales of a land to be mined for its minerals was assessable as ordinary income or is it capital in nature. California Copper Syndicate purchased a land for the purposes of mining copper. However, the company did not mined the land, instead went off to sold the land to a mining company ( Harris) at a profit in exchange for shares. The commissioner classified the sales of the land as
This section presents a brief review of existing theoretical and empirical literature of tax and tax administration. This review of literature establishes the framework for the study and high lights the noticeable strength and weakness of previous studies, which in return help in clearly identifying the gap in the literature and formulating the research question for the study. 2.1. Definitions and Concepts of Tax Taxes are a portion of private wealth, exacted from individuals by the state for meeting
shipping more cocaine, meth and especially heroin. (Don Winslow) They claim that the legalization of marijuana is increasing the crime rate. According to the white paper, dispensary operators have been attacked, robbed and murdered. Also, drug dealing, sales to minors, loitering, heavy vehicle and foot traffic in retail areas, increased noise and robberies of customers just outside dispensaries are all criminal byproducts resulting from medical marijuana distribution. Conservatives argue that the U.S.
investment. Comparing the accounts of various years helps in getting good pieces of information. ii. Management: The management of the business is greatly interested in knowing the position of the firm. The accounts are the basis, the management can study the merits and demerits of the business activity. Thus, the management is interested in financial accounting to find whether the business carried on is profitable or not. The financial accounting is the “eyes and ears of management and facilitates
dealings of state. Islam requires the authority of the state to act in the concerns of community, justice is provided to all, to endorse Islam globally and to redistribute wealth. The term Islamic Economics may be acceptable as recognition of the study based on the supposition of Islamic axioms in the social- political- cum legal environment and social principles and morals which guide the economic deeds of men and women in the Islamic environment. The scope of economics as redefined from Islamic
Ease of Doing Business in India Introduction What does “Ease of doing business” mean? If we go to the literal meaning – It refers to the ease with which an entity, whether it be an individual or a large corporation, can start and run a new business to earn profit. Suppose you decide that after this national convention, you want to open a business of any kind, then how fast, how easily and how economically can you do so, that is exactly what is meant by “Ease of Doing Business” in a lay man’s terms
developing tax system. Tax policy was employed as a principal instrument for correcting severe budgetary system. Article 265 of constitution deals with taxes “No tax shall be levied or collected except by authority of law.” Basically there are two types of tax- Direct and Indirect Tax. Direct tax is direct charged on income, wealth etc. which is paid by an individual to the central government of India which is known as income tax. For many years government is generating revenue through this tax system
the information does not reach all parties who need to know. It is unrealistic to think that the illiterate migrant Central American plantation workers using dangerous pesticides are adequately informed of the risks and subsequent bans in the US. In
the investment attractiveness of developing countries contributes to promote the effective flow of foreign direct investment. Literature review There are a lot of articles dedicated to the selected topic. All previous studies based on the empirical data. There are case studies, which are often very informative and include a wealth of valuable information but because they pertain to particular FDI projects or specific countries, they cannot be easily generalized. There is research focus on firm
for diversification and diversified firms’ general characteristics(Chandler&Alfred, 1962; Ansoff&Igor, 1965).On the basis of Philip G. Berger and Eli Ofek’s study, product diversification may be benefit to the company by higher operation efficiency, higher probability of taking positive NPV investment plans, better debt capacity and higher tax shield, while it may also harm the firm because of over-investment in value-decreasing activities and resource lacking in well-performed segments, and Porter