account of the firm
shall be deemed to be the full value of consideration, therefore,
importing another deeming fiction where it applies to general transfer ... itself is provided for deeming consideration to be
adopted for the purpose of section 48 of the Act, another deeming
fiction provided
Inductotherm (India) Private Ltd., ... vs Dy.Cit.,Circle-2(1)(1), , Ahmedabad on 24 May
relevant for our purposes
32. So far as deeming fiction under section 9(1)(i) is concerned, it cannot be
invoked in the present case ... business, as commission agent, was carried out in India. Even though deeming
fiction under section 9(1)(i) is triggered on the facts of this
purposes of capital gains u/s 48 and deeming fiction so
created does not apply to other provisions of the Act including section ... shall be deemed
to be the full value of consideration received or accruing as a result of
transfer. Meaning thereby, the deeming fiction created
explanation, as a fiction of law, is
brought into existence. The legal fiction is that the
assessee is deemed to be carrying on a speculation ... assessee is to be deemed to be
carrying on a speculation business for the purposes
of the Section. The deeming fiction is, therefore, one
which
certain situation, even without
there being anything to indicate so, statutory deeming fiction for concealment
of income comes into play. This deeming fiction ... computation of the total income.
Under first situation, the deeming fiction would come to play if the assessee
failed to give any explanation with respect
Welspun Corporation Ltd.,, Mumbai vs Dy.Dit ( Intl. Taxn. & Transfer Pricing ... on 3 January
relevant for our purposes
32. So far as deeming fiction under section 9(1)(i) is concerned, it cannot
be invoked in the present case ... business, as commission agent, was carried out in India. Even
though deeming fiction under section 9(1)(i) is triggered on the facts of
this
that this defect could not be
cured by recourse to the deeming fiction provided u/s. 292BB of the Act,
while holding ... April 2008. Section 292 BB of the
Act provides a deeming fiction. The deeming fiction is to the
effect that once the assessee has appeared
virtue of Section 319 of the Code, then by a
deeming fiction, he is deemed to be an accused from ... connection, I deem it necessary to
consider few precedents on the true meaning of the
word 'deemed' and 'deeming fiction
