Business Connection - Law Dictionary Search Results
Home Dictionary Name: business connectionBusiness connection
Business connection, The expression 'business connection' undoubtedly means somethings more than 'business'. The expression 'business connection' postulates a real and intimate relation between trading activity carried on outside the taxable territories and trading activity within the territories, the relation between the two contributing to the earning of income by the non-resident in his trading activity, CIT v. R.D. Aggarwal and Co., AIR 1965 SC 1526 (1531): (1965) 1 SCR 660: (1965) 56 ITR 20. [Income Tax Act (11 of 1922), s. 42 (1)]...
Business
Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking, Mahesh Chandra v. Regional Manager Uttar Pradesh Financial Corpn., AIR 1993 SC 935 (939): (1993) 2 SCC 279. [State Financial Corporation Act, (63 of 1951), s. 24]--Business would undoubtedly be property, unless there is something to the contrary in the enactment, J.K. Trust Bombay v. CIT, (1958) SCR 65: 1957 SCJ 845: AIR 1957 SC 846.Business includes the activities carried on by any public body, Halsbury's Laws of England, Vol. 20, 4th Edn., Para 546, p. 357. The term 'business' includes every trade, occupation and profession. The word 'business' has no technical meaning, but is to be read with reference to the subject and intent of the Act in which it occurs. The term 'business' means an affair requiring attention and labour as the chief concern; mercantile pursuits, that one does for livelihood, occupati...
Same business
Same business, the business of the company of deal-ing in shares and the business of manufacturing sugar and other commodities constitute the same business within the meaning of s. 24(2) of the Indian Income-tax Act, 1922, Standard Refinery and Distillery Ltd. v. Commissioner of Income Tax, AIR 1971 SC 2293: (1971) 1SCC 315: (1971) 3 SCR 378.In determining whether two lines of business constitute the 'same business' within the meaning of s. 24(2) of the Income-tax Act, the Income-tax authorities must consider the inter-connection, inter-lacing, inter-dependence and unity furnished by the existence management, common business organisation ,common administration, common Fund and a common place of business, Standard Refinery and Distillery Ltd. v. CIT, AIR 1970 SC 1379 (1380). [Income Tax Act, 1922, s. 24(2)]...
Administrative business
Administrative business, the business of managing conducted in private by persons having complete discretion, as distinguished from judicial business, which is conducted in Court under specific rules as to evidence, etc. In the Chancery Division the term is used an meaning that portion of the business of the Court which consists of executing the trusts of deeds and wills and deciding the numerous questions which arise in connection therewith, as distinguished from the 'contentious' business of the Court, which means hostile litigation between parties. Formerly also certain business transacted at Quarter Sessions now transferred to County Councils by s. 3 of the Local Government Act, 1888....
Contentious business
Contentious business, the business of legal practitioners where there is a contest, as opposed to non-contentious business when there is no such contest; the latter term is most frequently used in connection with obtaining probate or administra-tion, but is also applied to business in the Chancery Division where there are no facts in dispute, and the aid of the Court is only invoked to determine some point of law or construction, or to direct trustees or executors in the discharge of their duty....
Telephone connection
Telephone connection, means a telephone sub-scriber is usually connected by way of a loop (two or four wire line) to a local telephone exchange or end (central) office. End offices are in turn inter-connected via a hierarchy of switching centres. The connection medium between centres is called a trance, which consists physically of cable, coaxial cable, or microwave radio links', New Encyclopaedia Britannica, 15 Edn., Vol. 28, p. 511 [See also Telegraph Act, (13 of 1885), s. 3]; N. Krishna Devaraya v. Union of India, AIR 1996 Kant 189.Means an apparatus, system or process for the transmission of sound or speech to a distant point; and the word 'connection' means 'the act of connecting or the state of being connected'. The expression 'telephone connection' would mean in common parlance 'connecting two telephone apparatus' so as to enable the caller to avail the speech transmission facility with a desired person, New Webster's Dictionary'.The words 'telephone connection' would mean conne...
Steward of manor
Steward of manor, the lord's deputy, who transacts all the legal and other business connected with the estate, and takes care of the Court-rolls. The office is usually held by the lord's solicitor. The office has been deprived of much of its importance in consequence of the abolition of copyhold tenure by the (English) Law of Property Act, 1922 (see COPYHOLDS). The scale of compensation to the steward of the manor if he was appointed before the 29th June, 1922, is provided for by the 14th Sch. of the (English) Law of Property Act, 1922, and see the (English) L.P. (Amendment) Act, 1924. See also the (English) L.P. Act, 1922, and the (English) Enfranchised Land (Stewards' Fees) Regulations, S.R. & O., 1926, No. 3, as to fees payable to stewards upon extinguishment of manorial incidents and upon the compulsory production of assurance of former copyholds to him. Upon a vacancy for three months in the office and on other occasions the Lord Chancellor may upon default of the lord of the mano...
Controlled business
Controlled business, the definition of 'controlled business' contemplates two kinds of insurers--(i) insurers who carry on life business only, and (ii) insurers who carry on composite business, that is to say certain other business which does not ex facie come within controlled business, Under sub-clause (a) of s. 2(3)(i) controlled business covers the entire life business of an insurer if he carries on no other class of insurance business and under sub-clause (b) all the business appertaining to his life insurance business is included if he is a composite insurer. The controlled business in either case is intended to embrace all the business concerning life insurance. In the first case it means the whole of the business of the insurer and in the second case the part which comes within the life businessbut not other, National Insurance Co. Ltd. v. Life Insurance Corporation of India, AIR 1963 SC 1911 (1913): (1964) 2 SCR 182. [Life Insurance Corpora-tion Act, (31 of 1950), s. 2(3)(i) E...
Business of the House
Business of the House, in the House of Commons, it is not rigidly fixed. The Office of the Speaker in the Parliaments of Commonwealth -- Philip Laundy, p. 64.Business of the House, in the Indian Parliament, the business of the House is divided into (1) Government business, (2) Private Member's business; Practice and Procedure of Parliament, M.N. Kaul and S.L. Shakdher, 5th Edn., 2001, p. 407.Business of the House, means the relative order of all the items of business in the House of a legislature to be taken upon a particular day. The office of the Speaker in the Parliaments of Commonwealth, Philip Laundy, p. 64.Business of the House, consists of Government business, Private member's business and the business transacted in opposition time, Parliamentary Practice Erskine May, 22nd Edn., 1997, pp. 270 and 271....
Carries on business
Carries on business, the mere fact that the expression, 'carries on business' is used along with the other expressions, does not mean that it would apply only to such persons to whom the other two expressions regarding residence or of personally working for gain would apply, Union of India v. Ladulal Jain, AIR 1963 SC 1681 (1683). [Constitution of India, Arts. 298, 300]Carries on business, as enumerated and 'personally works for gain' connotes two different meanings. The phrase 'carries on business' under s. 62(2) at a certain place would mean having an interest in a business at that place, a voice in what is done a share in the gain or loss and some control thereon. Such business may be carried at the place through an agent or a manager through a servant, Jay Engineering Works Ltd. v. Ramesh Aggarwal, MIPR, 2007 (1) 6058 (Del).Carries on business, in a particular commodity must depend upon the volume, frequency, continuity and regularity of transactions of purchase and sale in a class...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial