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Tax Laws Lexicon

Tax Laws Lexicon

by V. S. Wahi
About Book:

A lexicon helps to understand the meaning of words and phrases used in a section or in judgment of courts. At times due to imperfection of the language it is not possible to know the legislative intent in enacting a provision. Where the words of a provision are clear and unambiguous, no question of construction could arise. Such words ordinarily speak for themselves. It is a settled rule of interpretation that if one construction of a statute leads to conflict, whereas on another construction the two Acts can be harmoniously construed, then the latter must be adopted. (KSL and Industries Ltd. v Arihant Threads Ltd. (2015) 190 Comp Cas 328 SC)

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.

Categories: International Taxation, Direct Taxes, Other Laws, GST & Other Indirect Taxes, Company Law
Publisher: Bharat Law House Pvt Ltd
About Publisher:

Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.  

Author: V. S. Wahi
About Author:
V. S. Wahi :

V. S. Wahi, an Advocate, has a rich and diverse experience of more than forty years in the field of corporate laws and taxation. He is formerly an officer of Indian Revenue Service, and has served in various senior positions in Income Tax Department including Chief Commissioner of Income Tax-1 Delhi. Besides holding senior positions in the Income tax Department, he has also worked on deputation as Senior Manager (Finance & Tax) at National Thermal Corporation Ltd; Asstt Director General, Central Economic Intelligence Bureau, New Delhi; and Director & Secretary, Company Law Board in the Department of Company Affairs, Government of India. Post-retirement he also held the position of Member, Company Law Board, in the Ministry of Corporate Affairs, New Delhi.

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”.


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About Book:

A lexicon helps to understand the meaning of words and phrases used in a section or in judgment of courts. At times due to imperfection of the language it is not possible to know the legislative intent in enacting a provision. Where the words of a provision are clear and unambiguous, no question of construction could arise. Such words ordinarily speak for themselves. It is a settled rule of interpretation that if one construction of a statute leads to conflict, whereas on another construction the two Acts can be harmoniously construed, then the latter must be adopted. (KSL and Industries Ltd. v Arihant Threads Ltd. (2015) 190 Comp Cas 328 SC)

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.

Categories: International Taxation, Direct Taxes, Other Laws, GST & Other Indirect Taxes, Company Law
Publisher: Bharat Law House Pvt Ltd
About Publisher:

Bharat is a 'trade-name' for a group of concerns, popularly known as Bharat Law House and Bharat Law House Pvt. Ltd. Bharat is one of the most reputed publishers of law books with an experience of over six decades. It possess a very diverse range of publications covering not only the area of taxation - direct and indirect - but also company law, insolvency capital market, finance, industrial law, foreign exchange, commercial, civil and criminal laws. The students publications for CA, CS, CMA, CFA, MBA, graduate and post-graduate studies have carved out a niche for themselves. The Publication House has a professionally qualified team with strong in-house capabilities. Their strength lies in the patronage of legal luminaries in every field. They strive for accuracy, authenticity and sincerity.  

Author: V. S. Wahi
About Author:
V. S. Wahi :

V. S. Wahi, an Advocate, has a rich and diverse experience of more than forty years in the field of corporate laws and taxation. He is formerly an officer of Indian Revenue Service, and has served in various senior positions in Income Tax Department including Chief Commissioner of Income Tax-1 Delhi. Besides holding senior positions in the Income tax Department, he has also worked on deputation as Senior Manager (Finance & Tax) at National Thermal Corporation Ltd; Asstt Director General, Central Economic Intelligence Bureau, New Delhi; and Director & Secretary, Company Law Board in the Department of Company Affairs, Government of India. Post-retirement he also held the position of Member, Company Law Board, in the Ministry of Corporate Affairs, New Delhi.

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”.

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