Search results
Results From The WOW.Com Content Network
It cannot be said that an accused will not be granted bail because he is a foreign national. [28] The Code of Criminal Procedure, 1973 does not define bail, although the terms bailable offence and non-bailable offence have been defined in section 2(a) of the Code. A Bailable offence is defined as an offence which is shown as bailable in the ...
The concept of the Fair Value Hierarchy is therefore introduced in paragraphs 22 through 31 in SFAS No. 157. To provide the financial statement user with more insight into the valuation techniques and to create comparability among financial statements, SFAS No. 157 requires the fair value assets and liabilities to be allocated to different levels or hierarchies based on the transparencies of ...
Nonrecognition provision generally have two common themes. First, nonrecognition is conferred because it is said that the sale or exchange at issue usually involves a mere change in the form of an investment and not a change in the substance of that investment. Second, the realized gain or loss usually never disappears: the unrecognized gain or ...
Taxable income refers to the base upon which an income tax system imposes tax. [1] In other words, the income over which the government imposed tax. Generally, it includes some or all items of income and is reduced by expenses and other deductions. [2] The amounts included as income, expenses, and other deductions vary by country or system.
The FSC Repeal and Extraterritorial Income Exclusion Act of 2000 [2] effectively 'repatriated' the FSC tax break and extended it to all types of entities with qualifying foreign sales, including S corporations and Limited liability companies previously excluded. Foreign companies that are U.S. taxpayers could also use the tax break, which was ...
(The Center Square) – Real estate experts say California’s anti-price-gouging laws could make it impossible to rent out housing to the thousands of families displaced by the ongoing wildfires ...
Diminution in value is a legal term of art used when calculating damages in a legal dispute, and describes a measure of value lost due to a circumstance or set of circumstances that caused the loss. Specifically, it measures the value of something before and after the causative act or omission creating the lost value in order to calculate ...
Commissioner v. Glenshaw Glass Co., 348 U.S. 426 (1955), was an important income tax case before the United States Supreme Court.The Court held as follows: Congress, in enacting income taxation statutes that comprehend "gains or profits and income derived from any source whatever," intended to tax all gain except that which was specifically exempted.