2 15 - Law Dictionary Search Results
Chit Fund Company
company managing, conducting or supervising as foreman, agent or in any other capacity, chits as defined in s. 2 of the Chit Funds Act, 1982, (40 of 1982). [Prevention of Money Laundering Act, (15 of 2003), s.
Non-banking financial company
s. 45-I of the Reserve Bank of India Act, 1934 (2 of 1934). [Prevention of Money Laundering Act, 2002 (15 of 2003), s. 2(1) (q)]
Referee
on valuation of machinery, see (English) Rating and Valuation Act, 1925 (15 & 16Geo. 5, c. 90), s. 24; also (English) Workmen's Compensation Act, 1925 (15 & 16 Geo. 5, c. 84), and other Acts. Reference committees
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Discovers
Discovers, the word 'discovers' in s. 15 of the Act is of sufficient amplitude to take in subsequent events which have a material bearing on … when the Excess Profits Tax Officer finds that an assessee to whom relief had been granted under s. 26(3) has utilised the buildings, plant or machinery in business after the termination of the war, he is entitled
Wholly and exclusively for purposes of such business
Wholly and exclusively for purposes of such business, the expenditure of a capital nature is certainly not an expenditure which is deductible for computing profits though it may be an expenditure wholly and exclusively laid out...
Unwholesome and noxious
harmful to health or repugnant to human use. [Prevention of Good Adulteration Act, 1954 (37 of 1954), s. 2 (xv)]
Duty
an obligation. See PENSION. It means a duty of customs leviable under this Act. [Customs Act, 1962, s. 2 (15)] The expression 'duty' means an 'amount' which shall be collected as a condition for granting the permission to
Expenditure
be considered as expenditure, Madras Industrial Investment Corpn. Ltd. v. CIT, (1997) 4 SCC 666: AIR 1997 SC 2063. 'Expenditure' is equal to 'expense' and 'expense is money laid out by calculation and intention though many uses
Filth
Filth, 'filth' includes offensive matter and sewage. [New Delhi Municipal Council Act, 1994 (44 of 1994), s. 2(15)]
For the purpose of the business
For the purpose of the business, the expression 'for the purpose of the business' is essentially wider than the expression 'for the purpose of earning profits.' It covers not only the running of the business or...
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