Developments in the field of tax laws, in last few years, have brought significant changes in provisions of direct and indirect tax laws that required updating of the definitions, legal terms and of words and phrases used. A taxing statute ought to be construed strictly. One has to look merely what is clearly said; there is no room for any intendment. There is no equity about a tax. There is no presumption as to tax. Thus, while interpreting a provision of taxing statute nothing is to be read in, nothing is to be implied.
This new edition of the book provides an up to date and exhaustive coverage of the definitions, legal terms, and of the words and phrases used in tax laws, international tax and tax treaties. A separate chapter is also devoted covering meaning of Latin Maxims. Besides tax laws, this edition also covers entries of certain words and phrases used in corporate and commercial laws.
Author: V. S. Wahi
During government service Mr Wahi has been member of several Government Committees including Member of the “Expert Group on Transfer Pricing” constituted by the CBDT, Department of Revenue, Ministry of Finance, New Delhi.
He obtained degree in B.Com (Hons) from SRCC, Delhi; LL.B from Faculty of Law, Delhi; MBA from FMS, Delhi and M Phil from Punjab University.
After retirement from IRS he joined legal profession and since then practicing law in the field of corporate taxation; international tax; transfer pricing; company law; and business and commercial laws. He was also a Senior Partner of Khaitan & Company, Advocates & Solicitors for about four years and has been advising several large and multinational companies in the field of corporate laws, international tax, transfer pricing; corporate taxation and other related business and commercial laws. He has also worked as Independent Director on the board of the SIDBI Venture Capital Company Limited, Mumbai. He is also Member of India Branch of International Fiscal Association, Rotterdam, Netherlands. Besides he has also been former Co-chairman of the Direct Tax Committee of PHD Chamber of Commerce and Industry, New Delhi; Member Steering Committee on DTC, of ASSOCHAM, New Delhi and Member Direct Tax Committee, ASSOCHAM, New Delhi.
Mr. Wahi has also contributed several papers and articles on International tax, transfer pricing, and corporate laws. He has also authored “Tax Laws Lexicon” and “Transfer Pricing”.