Apportion - Law Dictionary Search Results
Home Dictionary Name: apportionSimilarly apportioned
Similarly apportioned, the words 'similarly apportioned' which occur in the explanation mean apportioned 'with reference to the amounts of profits and gains attributable to the two parts of the company's business'. Thus, the explanation first refers to an apportionment or splitting up and then provides that the dividends and taxes shall be similarly apportioned, that is to say, similarly split up. Accordingly, the words 'similarly apportioned' convey a definite meaning and are not ambiguous. 'Similarly apportioned' means simply 'similarly split up', CIT v. T.V. Sundaram Iyenger and Sons (P) Ltd., AIR 1976 SC 255 (260): (1976) 1 SCC 77: (1975) Supp SCR 93. (Income Tax Act, 1922 s. 23A, Expl. 2)...
Apportion
Apportion, according to the Shorter Oxford English Dictionary, 3rd Ed., Vol., 1 p. 87, to 'apportion' is 'to assign as a proper portion'. An assignment as a proper portion of the dividends would mean an assignment in the same or similar ratio as the respective profits of the two segments bear to the total profits of the company, C.I.T. v. T.V. Sundaram Iyengar (P.) Ltd., (1976) 1 SCC 77 (84): AIR 1976 SC 255....
apportion
apportion : to make a usually proportionate division or distribution of (an amount due) according to a plan: as a : to divide (an amount due in tax or other liability) among the parties responsible for respective shares of the payment compare contribution b : to assign (a portion of the consideration agreed to in a contract) as payment for the other party's partial performance c : to distribute (corporate dividends) based on some proportion d : to assign (legislative representatives and taxes) among the states as provided by law ap·por·tion·able adj ap·por·tion·ment n ...
Apportionment
Apportionment, a division of a whole into parts (usually unequal) proportioned to the rights of more claimants than one. It is either (1) Apportionment in respect of time, or (2) Apportionment in respect of estate.Apportionment in respect of Time.--At Common Law there is no apportionment in respect of time. when a successor in interest succeeds just before a rent or other periodical payment falls due, he takes, at Common Law, the whole, and the executors of his predecessor take nothing (Clun's Case, 1Rep. 127). This was remedied by 11 Geo. 2, c. 19, s. 25, which apportioned rent between the representatives of a deceased tenant for life, and the person succeeding in remainder, and by 4 & 5 Wm. 4, c. 22, passed to obviate doubts which had arisen upon the earlier Act.The (English) 'Apportionment Act, 1870' (33 & 34 Vict. c. 35) now provides (but without repealing the above Acts) that all rents, annuities, and dividends, and other periodical payments in the nature of income shall, like int...
reapportion
reapportion : to apportion anew ;esp : to apportion (seats in a house of representatives) in accordance with new population distribution vi : to make a new apportionment re·ap·por·tion·ment n ...
Decreet of modification
Decreet of modification, that which modifies a stipend to a minister, but does not divide or apportion it among the heritors, Ibid....
To liquidate
To liquidate, means to ascertain and/or apportion, Dena Bank v. K. Motiram Vakil, AIR 1989 Bom 264: 1988 (2) Cur CC 1153: (1989) 1 Bank CLR 499: (1988) 3 Bom Cr 210: (1988) 90 Bom LR 275: 1988 Mah LR 1691...
Lease
Lease [either from locatio, Lat., the letting of property, or laisser, Fr., to let, or leapum, or leasum, Sax., to enter lawfully], sometimes also called demise (demissio), is a grant of property for life, or years, or from year to year or at will, by one who has greater interest in the property. The person granting is called the lessor, who is possessed of the reversion (as to a reversion being essential to a lease, see 1 Platt on Lease, pp. 9 et seq.); he to whom the property is granted, the lessee. The consideration is usually the payment of a rent or other annual recompense. The ancient operative words were 'demise, lease, and to farm let,' or 'demise and lease.'The (English) Law of Property Act,1925, makes a distinction between leases for years which become legal estates if they consist of terms of years absolute and leases for life which have been converted into merely equitable interests if created under a settlement, but by s. 149 of the Act leases for life at a rent or in cons...
Tithe Rent-Charge
Tithe Rent-Charge. A charge on land, substituted by commutation for that charge on the produce of the land for the benefit of the Church, which was called tithe from being the tenth part of the increase yearly arising and renewing from the profits of lands, the stock upon lands, and the personal industry of the inhabitants; the first species being usually called pr'dial, the second mixed, the third personal.This commutation was effected by a procedure set on foot by the (English) Tithe Act, 1836 (6 & 7 Wm. 4, c. 71), amended by subsequent Acts. See Chitty's Stat., tit. 'Tithe Rent-Charge.' The amount to be paid was annually adjusted, according to the price of corn.The commutation was effected in one of two ways-either by a voluntary parochial agreement, con-firmed by the commissioners, or by the compulsory award of the commissioners. The value, either voluntarily agreed upon or awarded by the commissioners, was considered as the amount of the total rent-charge to be paid in respect of ...
Shift
To divide to distribute to apportion...
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