QUESTION ONE
Sec CA 1(2) of the Income Tax Act 2007, is intended to tax an amount which is income of a person.
(a) How has the term, ’income’, been interpreted and applied for the purposes of sec CA 1(2)?
It has been conflicted that economists cannot settle on a common definition of "income." Concepts like
- maintenance of capital
- flow of income
- One of the proposed definitions is the comprehensive income idea associated with HC Simon's research.
- of the. . .
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