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“Trade-off Analysis Methodology for Asset Management” by Qiang Bai, Samuel Labi et al

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But it is contended that if the fathers of our Constitution intended to include in the definition authorities exercising judicial functions, having included the Government and the Parliament, they would not have omitted to mention specifically the judicial institutions therein. The decision of this Court in Kailash Nath v. State of U. P. , which necessitated the reference to this Bench, is another instance where this Court enforced the fundamental right of the petitioner by accepting an interpretation of the provisions of the Sales-tax Act different from that put upon them by the sales-tax authority.

He et al. confirm that although the stock markets of China and other Asian countries experienced negative effects of the crisis in the early stages of the epidemic, the impact was limited and that COVID-19 had a negative impact on the stock markets in USA and Europe. Similarly, Ali et al. show that returns were lower in China in both the epidemic and pandemic period compared to that of stock markets in bigger economies such as the USA and the UK. Over the past two decades, an increasing number of studies have studied the impact of major world events, such as financial/economic crises, terrorist attacks and medical emergencies; on financial markets around the world. The most recent major event that has become the centre of many studies is the 2019 coronavirus health crisis, also known as COVID-19. The outbreak of this crisis was announced by the World Health Organization on 31 December 2019. By 20 February 2020, the WHO declared COVID-19 as a global emergency which quickly turned into a pandemic by 11 March 2020 (Ali et al. 2020).

The Petitioner contends that, on this reasoning, Art. 1,9must be held to be violated not merely when an assessment is made under a statute which is ultra vires, but also when it is made on a misconstruction of’ a statute, which is intra vires. And 19 are in the same position as Art. 31 .They all of them enact that the citizen shall have the right to hold property or to carry on business without interference by the State. If Art. 31 is as held in Bamjilal’8 case and Laxamanappa’s case inapplicable to taxation laws, Arts. 19 must on the same reasoning also be held to’ be inapplicable to such laws. Analysis of the mean returns of the TASI and the sectoral indices indicates higher values during the COVID-19 pandemic than before the period. Stock returns being higher during the pandemic period in Saudi confirms the findings of Ngakwe et al. for the Chinese stock markets and contradicts the findings of previous studies which found negative returns in various stock markets during the pandemic period (Al-Awadhi et al. 2020; Mishra et al. 2020; Salisu and Vo 2020; Erdem 2020).

The Sales tax Officer had jurisdiction to decide under the relevant sales- tax Act whether a transaction was inside or outside sale. He had the jurisdiction to decide rightly or wrongly; on the basis of his finding, though a wrong one, the’ sales were not exempt from taxation. If, on the facts of the case, the Sales-tax Officer bad arrived at the correct conclusion, he would not have any power to impose a tax on inter-State sales under the Act; he would also have infringed Art. 286of the Constitution, interview dom hofmann nftnewtonplatformer if he had imposed a tax on such a sale. The absence of jurisdiction or want of power in one case was traceable to a statutory injunction, and in the other to a constitutional prohibition; but that in itself cannot sustain the distinction in the application of the criterion of jurisdiction, for in either case the said wrong finding of fact was the root of the error. Applied that Article would also be of no help to the Welfare Commissioner because it could not be supported underArt.