Profit - Definition - Law Dictionary Home Dictionary Definition profit

Definition :

Profit, connotes the idea of pecuniary gain, Shivamurthy Swami v. Agadi Sanganna Andanappa, 1971 (3) SCC 870; Revenna Subanna v. GS Kaggerappa, AIR 1954 SC 653.

Means whatever the company finally earns after deducting all the expenditure and it goes to the company, State of Maharashtra v. Chandrakant Solanki, 1995 Cr LJ 832.

Primarily means the arithmetical excess of the price received over the total of all costs incurried by the seller. It is again made in business, profession of vocation when both the receipts and payments are taken into consideration, Rajkishen Prem Chandra Jain v. C.I.T., AIR 1959 Punj.