Landmark case · Law of Taxation · Semester 6
Wallace Brothers & Co. Ltd. v. CIT
(1948) 16 ITR 240 (PC) · Privy Council
A previous-year nexus with India is enough to support extra-territorial charge of tax.
From topic
Previous year, assessment year and the charging section — Unit I, Law of Taxation.
Related sections:
- Income-tax Act, 1961, 2(9) — Assessment year
- Income-tax Act, 1961, 3 — Previous year defined
- Income-tax Act, 1961, 4 — Charge of income-tax
- Income-tax Act, 1961, 2(31) — Person