Capital Expense - Law Dictionary Search Results
Home Dictionary Name: capital expensecapital expense
capital expense see expense ...
expense
expense : financial burden or outlay ;specif : an item of business outlay chargeable against revenue for a specific period busi·ness expense : an expense made in furtherance of one's business esp. as part of the cost of operating a business in the taxable year in which the expense is incurred compare capital expense and personal expense in this entry NOTE: Business expenses are generally tax deductible in the year the expense is incurred. capital expense : an expense made in a business that will provide a long-term benefit : capital expenditure NOTE: Capital expenses are not tax deductible as business expenses but may be used for depreciation or amortization. mov·ing expense : an expense incurred in changing one's residence that is tax deductible if incurred for business reasons (as when one's job requires relocation) or·di·nary and nec·es·sary expense : an expense that is normal or customary and helpful and appropriate for the operation of a ...
capitalize
capitalize -ized -iz·ing 1 a : to convert into capital [ the company's earnings] b : to treat as a capital expenditure rather than an ordinary and necessary expense [the cost of the merger must be capitalized] 2 a : to compute the present value of (an income extended over a period of time) compare amortize b : to convert (a periodic payment) into an equivalent capital sum [capitalized annuities] 3 : to supply capital for [had capitalized the business with her own savings] ...
Fixed capital investment,
Fixed capital investment, preoperative expenses which included interest to financial institutions, rights shares issue expenses, foreign technician expenses and foreign travel expenses do not form part of 'fixed capital investment', Commissioner of Trade Tax, U.P. v. Kajaria Ceramics Ltd., AIR 2005 SC 2968....
Income or net income
Income or net income, Income is money or other benefit periodically received. It is profit or revenue and not capital. It is gain derived from capital or labour or both. Net income is income obtained after deducting all expenses incurred for the purpose of earning the income. It is income minus operating expenses, D.C.M. v. S. Paramjit Singh, AIR 1990 SC 2286 (2288). [J&K Houses and Shops Rent Control Act, 1966, s. 1(3)(iii)]...
Charges
Charges, expenses, costs. A trustee is entitled as a matter of right to his costs, charges and expenses properly incurred in relation to the trust, and they constitute a first charge on the trust property, both capital and income; see Stott v. Milne, (1884) 25 Ch D 710.Means any amount which may be demanded as a price for the rendering of some service or as price of some goods. Sree Gajanana Motor Transport Co. Ltd. v. State of Karnataka, (1977) 1 SCR 665: (1977) 1 SCC 37: AIR 1977 SC 418 (419).Includes all taxes, Shroff and Co. v. Municipal Corporation of Greater Bombay, 1989 Supp (1) SCC 347.--The term 'charges' must be read ejusdem generis taking colour from the succeeding terms- rates, duties and taxes, Nagrik Upbhokta M. Manch v. Union of India, (2002) 5 SCC 466: AIR 2002 SC 2405 (2411). [Kerosene (Restriction on Use and Fixation of Ceiling Price) Order, 1993, clause 2(d)]The word 'charges' in Rule 7(1) should be given a wider meaning as denoting the accusations or imputations aga...
Commission, the promoter's
Commission, the promoter's, means the amount by which the aggregate total stakes in all the competitions exceeds the sum of (1) the aggregate prize in the competitions; (2) the aggregate pool betting duty payable in respect of the competitions; and (3) the expenses of the promoter actually incurred by him in the conduct of the competitions, excluding any expenses properly chargeable to capital and any interest on borrowed money, and in particular, excluding any provision for the depreciation of building or equipment, any emoluments payable to the promoter, or, if the promoter is a partnership, to any of the partners, or, if the promoter is a body corporate, to any of the directors, and in any case any emoluments payable to any person whose emoluments depends to any extent on the profits of the promoter, Betting, Gaming and Lotteries Act, 1963, s. 4(3), Sch. 2, para 23(2) (UK) Halsbury's Laws of England, Vol. 4(1), para 116, p. 84....
Minimum subscription
Minimum subscription is the minimum cash to be raised by the issue of shares offered to the public for subscription. This must be stated in the prospectus and application sums therefor received before allotment of shares. The amount includes the minimum required, in the opinion of directors, for property to be bought by the proceeds of issue, preliminary expenses, if any repayment of loans for those purposes and working capital; see (English) Companies Act, 1929, s. 39 and 4th Sched...
Reservoirs
Reservoirs. As to construction of reservoirs, see (English) Waterworks Clauses Acts, 1847 (10 & 11 Vict. c. 17) and 1863 (26 & 27 Vict. c. 93), and the (English) Reservoirs Safety Provisions Act, 1930 (20 & 21 Geo. 5, c. 51). For powers and procedure of local authorities to construct, lease or purchase reservoirs, see (English) Public Health Act, 1936, ss. 116-123, subject to the conditions imposed by the Acts. The (English) Limited Owners Reservoirs and Water Supply Further Facilities Act, 1877 (40 & 41 Vict. c. 31), gives limited owners power to form reservoirs and to charge their estates with the expense. Reservoirs are among the 'improvements' which may be made with capital trust money under the (English) Settled Land Act, 1882; see s. 25 (xiii.); now under the (English) Settled Land Act, 1925, s. 83, and 3rd Sch., Part I....
Land Commissioners
Land Commissioners, the title by the (English) Settled Land Act, 1882, s. 48, of the Commissioners formerly called 'The Copyhold Inclosure and Tithe Commissioners.' By s. 26 of that Act, a certificate of these Commissioners that an 'improvement' within that Act has been effected is, in the absence of an Order of the Court, an authority to trustees to pay for the improvement out of 'capital money,' and by s. 28 a tenant for life must maintain and repair an 'improvement' at his own expense during such period, if any, as the Commissioners by certificate in any case prescribe.All powers and duties of the Land Commissioners were transferred to the Board of Agriculture by the (English) Board of Agriculture Act, 1889 (52 & 53 Vict. c. 30)....
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