Assessing Officer - Law Dictionary Search Results
Smallness of profit
Smallness of profit, the Legislature has deliberately used the expression 'smallness of profit' and not 'smallness of assessable income' and there is noth-ing in the context in which the expression 'small-ness of profit' occurs which justifies equation of the expression 'profit' with 'assessable income.' Smallness of the profit in s. 23A has to be adjudged in the light of commercial principles and not inthe light of total receipts, actual or fictional, Commissioner of Income Tax v. Bipinchandra Maganlal and Co., AIR 1961 SC 1040 (1043): (1961) 2 SCR 493.(ii) The words 'smallness of profit' in the s. 23 of the Income Tax Act, 1922 refer to actual accounting profits in comparison with the assessable profits of the year. In arriving at the assessable profits the Income-tax Officer may disallow many expenses actually incurred by the assessee; and in computing his income, he may include many items on notional basis. But the commercial or accounting profits are the actual profits earned by a...
Public officer
Public officer, means a person falling under any of the following descriptions, namely:-(a) every Judge;(b) every member of an All India Service;(c) every commissioned or gazetted officer in the military naval or air forces of the Union while serving under the Government.(d) Every officer of a court of justice whose duty it is, as such officer, to investigate or report on any matter of law or fact, or to make, authenticate or keep any document, or to take charge of dispose of any property, or to execute any judicial process, or to administer any oath, or to interpret, or to preserve order, in the Court, and every person especially authorized by a Court of Justice to perform any of such duties.(e) Every person who holds any office by virtue of which he is empowered to place or keep any person in confinement;(f) Every officer of the Government whose duty it is, as such officer, to prevent offences, to give information of offences, to bring offenders to justice, or to protect the public h...
Consideration
Consideration. Any act of the promisee (the person claiming the benefit of an obligation) from which the promisor (the person burdened with the obligation) or a stranger derives a benefit or advantage, or any labour detriment or inconvenience sustained or suffered by the promisee at the request, express or implied, of the promisor. See Laythoarp v. Bryant, 3 Scott 250; 2 Wms. Saund 137 h; Currie v. Misa, (1875) LR 10 Exch 153.Consideration is one of the facts which the courts require as evidence of intention, (a) that a person intends his promise to be binding on him, or (b) that he intends to divest himself of a beneficial interest in property. In its widest sense consideration is the price, motive or inducement for a promise or for a transfer of property from one person to another. The nature or quality of the consideration which will be sufficient for these purposes varies with the nature of the transaction and in the absence of consideration the Courts will, except in the case of s...
Mistake apparent from the record
Mistake apparent from the record, s. 35(1) of the Act refers not only to the order of assessment but it comprises all proceedings on which the assessment order is based and the Income-tax Officer is entitled for the purpose of exercising his jurisdiction under s. 35 to look into the whole evidence and the law applicable to ascertain whether there was an error, Maharana Mills (P) Ltd. v. Income Tax Officer, AIR 1959 SC 881 (886): (1959) Supp 2 SCR 547. [Income-tax Act, 1922, s. 35 (1)]...
jeopardy assessment
jeopardy assessment : a special immediate assessment of an alleged tax deficiency levied under federal law when a taxing officer believes that delay may jeopardize collection of the claim ...
Groundnut oil
Groundnut oil, the processing consists in the non-oily content of the raw oil being separated and removed, rendering the oily content of the oil 100 per cent. For this reason refined oil continues to be groundnut oil within the meaning of rules 5(1)(k) and 18(2) of the Madras General Sales Tax (Turnover and Assessment) Rules, 1939 notwith-standing that such oil does not possess the characteristic colour, or taste, odour, etc. of the raw groundnut oil, Tungabhadra Industries Ltd. v. Commercial Tax Officer, AIR 1961 SC 412: (1961) 2 SCR 14. [Madras General Sale Tax (Turnover and Assessment, Rules (1939), R. 18(2), s. (1) (k)]...
Suitable
Suitable, has to be read in the context for which the enactment is made. Where the promotion is to be made for the post of stenographer, the stenographer must be efficient in shorthand writing and typing. The suitability must relate to this aspect, Virendra Kumar Misra v. State of Uttar Pradesh, (1995) All LJ 778.Suitable, the word 'suitability' itself is correlated with the object of recruitment, namely, that a person has to be considered suitable for appoint-ment to a superior service which itself furnished the norm that he is considered suitable having regard to his service in the State Forest Service. This in turn refers only to the past records of the service in the State as an officer of the State Forest Service. The Special Selection Board under Regulation 5(2)(a) has to adjudge the suitability of an officer from his service records which from the basis of the preparation of the list and the list to prepared after consideration of the records would reflect the overall assessment...
Judgment
Judgment [fr. judgment, Fr.], judicial determination; decision of a Court.Under the former practice of the superior Courts, this term was usually applied only to the Common Law Courts, the term 'decree' being in general use in the Court of Chancery. The expression 'Judg-ment,' however, is now used generally except in matrimonial causes, the term 'judgment' including 'decree' [(English) Jud. Act, 1925, s. 225, replacing Jud. Act,1873, s. 100].The several species of judgments are either:-(a) Interlocutory, given in the course of a cause, upon some plea, proceeding, or default, which is only intermediate, and does not finally determine or complete the action. See INQUIRY; SUMMONSES; and ORDERS; and the various titles of the subjects of such judgments as MANDAMUS; INJUNC-TION, etc.(b) Final, putting an end to the action by an award of redress to one party, or discharge of the other, as the case may be.By the (English) C.L.P. Act,1852, s. 120, a plaintiff or defendant having obtained a verd...
Secondary
Secondary, an officer who is next to the chief officer, 2 Lilly, Abr. 506. Also, an officer of the Corporation of London, before whom inquiries to assess dam-ages are held, as before sheriffs in counties. See INQUIRY....
Escheator
Escheator [fr. escaetor, Lat.], an officer anciently appointed by the lord treasurer, etc., in every county, to make inquests of titles by escheat, which inquests were to be taken by good and lawful men of the county, impannelled by the sheriff, 4 Inst. 225. See ESCHEAT.A royal officer appointed to assess the value of property escheating to crown, Black's Law Dictionary, 7th Edn., p. 564....
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