Basis - Law Dictionary Search Results
Home Dictionary Name: basis Page: 2 Page 2 of about 285 results (0.002 seconds)carryover basis
carryover basis see basis ...
adjusted basis
adjusted basis see basis ...
accrual basis
accrual basis see basis ...
accrual basis accounting
accrual basis accounting An accounting method that records sales, expenses or other events at the time they occur, rather than when cash changes hands ...
cash basis accounting
cash basis accounting An accounting method that records sales and expenses when the transfer of cash occurs ...
Best judgment assessment
Best judgment assessment, It is primarily made on the basis of the accounts maintained by the assessee. But, when the assessing officer comes to the conclusion that no reliance can be placed on the accounts maintained by the assessee, he proceeds to assess the assessee on the basis of his 'best judgment'. In doing so, he may take such assistance as the assessee's accounts may afford, he may also rely on other information gathered by him as well as the surrounding circumstances of the case. The assessments made on the basis of the assessee's accounts and those made on 'best judgment' basis are totally different types of assessments, Commissioner of Sales Tax v. H.M. Esufali, (1973) 2 SCC 137: AIR 1973 SC 2266: (1973) 3 SCR 1005. [Madhya Pradesh General Sales Tax Act, 1958, s. 18(4) and 19]The power to levy assessment on the basis of best judgment is not an arbitrary power; it is an assessment on the basis of best judgment, State of Orissa v. Shri B. P. Singh Deo, (1971) 3 SCC 52: AIR 19...
Wages
Wages, if the remuneration is to be paid daily or weekly, it can be called wages. But when it is monthly remuneration payable on the last day of the month or after that date, and when the remuneration considering the general standards of payments is fairly high, then it has to be understood as salary, K.V.V. Sharma (in re), (1952) 2 Mad LJ 917.Includes any bonus or other additional remunera-tion etc., and any sum 'payable to such person by reason of the termination of his employment, A.R. Sarin v. B.C. Patil, AIR 1951 Bom 423.Means remuneration payable to an employee under an award or settlement, Purshottam v. Potdar, AIR 1966 SC 856.Means remuneration which an employer is liable to pay, if the term of the contract of employment are fulfilled. In other words, they are payments made by an employer for services rendered, G.M. Joshi v. First Civil Judge, AIR 1958 Bom 262.Wages, ought to include gratuity as well, Tirjugi Sitaram v. Badlu Prasad Bheru Prasad, AIR 1962 MP 361.The compensatio...
Wholesale market
Wholesale market, a wholesale market does not always mean that there should be an actual place where articles are sold and bought on a wholesale basis. This word can also mean the potentiality of the articles being sold on a wholesale basis. So, even if there was no market in the physical sense of the term at or near the place of manufacture where the articles of a like kind and quality are or could be sold, that would not in any way affect the existence of market in the proper sense of the term provided the articles themselves could be sold wholesale to traders, even though the articles are sold to them on the basis of agreements which confer certain commercial advantages upon them, A.K. Roy v. Voltas Ltd., AIR 1973 SC 225 (228): (1973) 3 SCC 503....
equal protection
equal protection : a guarantee under the Fourteenth Amendment to the U.S. Constitution that a state must treat an individual or class of individuals the same as it treats other individuals or classes in like circumstances called also equal protection of the law see also rational basis test, strict scrutiny, suspect classification Amendment XIV to the Constitution in the back matter NOTE: The equal protection requirement of the Constitution protects against legislation that affects individuals differently without a rational basis for doing so. In reviewing claims of denial of equal protection, a court will uphold legislation that has a rational basis unless the legislation affects a fundamental right or involves a suspect classification, such as race. In such a case, the court will use a strict scrutiny standard of review and will strike down legislation that does not show a compelling need for discriminating. ...
Shop
Shop, a place where thins are kept for sale, usually in small quantities, to the actual consumers. By (English) Shops Act, 1912, s. 19, 'shop' includes any premises where any 'retail trade or business' is carried on; 'retail trade or business' includes the business of a barber or hairdresser, but not the sale of programmes, etc., at places of amusement.A business establishment or place of employment; a factory, office, or other place of business, Black's Law Dictionary, 7th Edn., p. 1384.The (English) Shops Act, 1934, deals with the employment of persons under eighteen years, repealing s. 2 of the (English) Shops Act, 1912; but the other provisions are unaffected. The 1934 Act, s. 1, provides that no young person (under eighteen) shall be employed for more than the normal maximum working hours, that is, forty-eight hours in any week; it makes restrictions on right employment, has special provisions as to the catering trade, the sale of accessories for Aircraft, motor vehicles and cycle...
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