Question
Which of the following rules of interpretation is
applied when the words of a statute are clear and unambiguous, and there is no need to infer the intention of the legislature?Solution
• The Literal Rule requires that statutes be interpreted using the plain, ordinary meaning of the language, without delving into external sources or inferring legislative intent, unless ambiguity exists. • This rule reflects the principle that the legislature's intention is best expressed through the actual words used in the statute. • Only when the literal interpretation leads to an absurd result, the Golden Rule may be applied.
The concept of Tax Treaty-Based Exemption (TTB) typically applies when:
What is the maximum time allowed to complete a buyback offer from the date of passing a special resolution?
The LN function in Ms Excel 2010 returns the ________.
Which of the following is a fixed cost?
A construction company signs a ₹50 crore contract for building a bridge over 5 years. It recognizes revenue based on the percentage-of-completion meth...
Which document or act allows the RBI to issue specific KYC Directions to ensure public interest?
Under RBI’s scale-based regulatory framework for NBFCs, an NBFC–Peer-to-Peer Lending platform (NBFC-P2P) will always fall under which regulatory lay...
XYZ Ltd. has furnished the following details to the bank while seeking working capital finance for the upcoming financial year:
• Total Current...
In relation to Bills of Exchange, which of the following statements is INCORRECT?
What will be the future value of ₹50,000 invested today for 3 years at a compound annual interest rate of 10%?
