Carry Over Basis - Law Dictionary Search Results

Home Dictionary Name: carry over basis

Carry over

Carry over, a term used in the Stock Exchange to denote the process of postponing the completion of a contract, either for the purchase or sale of stocks or shares, to a later date than that originally fixed. When this happens the buyer usually pays the seller interest on the capital involved, the seller retaining the stocks or shares till the transaction is ultimately completed. This interest is called a 'contango.' If, on the other hand, the buyer is anxious to pay for and take up to stocks or shares but the seller is unable to deliver, the buyer would not pay interest to the seller, but on the contrary exacts a payment from him, as consideration for postponing the completion of the contract. This payment is called a 'backwardation,' or shortly a 'back.'An income-tax deduction (esp. for a net operating loss) that cannot be taken entirely in a given period but may be taken in a later period (usu. the next five years), Black's Law Dictionary, 7th Edn....

basis

basis pl: ba·ses [-sēz] 1 : something (as a principle or reason) on which something else is established [the court could not imagine any conceivable for the statute] see also rational basis 2 : a basic principle or method ;esp : the principle or method by which taxable income is calculated NOTE: The Internal Revenue Code has set some limits on which method a taxpayer may use for figuring taxable income. For example, a corporation with gross receipts under $5,000,000 may be a cash-basis taxpayer. ac·cru·al basis : a method of accounting in which income and expenses are recorded in the period when they are earned or incurred regardless of when the payment is received or made called also accrual method cash basis : a method of accounting in which income and expenses are recorded in the period when payment is received or made called also cash method 3 : the value (as cost or fair market value) of an asset used in calculating capital gains or losses for inc...

Ferry

Ferry, the right to carry persons and their goods in boats across a river, and to take toll for such carriage. It is a franchise, and can only be created by a grant from the Crown, prescription which presumes such a grant, or Act of Parliament; see Simpson v. Att.-Gen., 1904 AC 490. The owner if he lose his traffic by the competition of a railway bridge can get no compensation under the Lands Clauses Act, Hopkins v. Great Northern Railway Co., (1877) 2 QBD 224. See also Cowes Urban District Council v. Southampton, etc., Co., (1905) 2 KB 287; Hammerton v. Dysart (Earl), 1916 AC 57; General Estates Co. v. Beaver, (1914) 3 KB 918. As to the duties of common ferrymen, see 1 Shower, 140. As to the acquisition of ferries by local authorities, see the (English) Ferries (Acquisition by Local Authorities) Act, 1919.It includes a bridge of boats, pontoons or rafts, a swing bridge, a fly-bridge and a temporary bridge and the approaches to, and landing places of, a ferry. [Railways Act, 1989 (24 o...

Not involving the carrying on of any activity of profit

Not involving the carrying on of any activity of profit, as a result of the addition of the words 'not involving the carrying on of any activity for profit' in the present definition over that in the 1922 Act in order to bring a case within the fourth category of charitable purpose, it would be necessary to show that (1) the purpose of the trust is advancement of any other object of general public utility, and (2) the above purpose does not involve the carrying on of any activity for profit. Both the above conditions must be fulfilled before the purpose of the trust can be held to be charitable purpose. Sole Trustee Loka Shikshana Trust v. Commissioner of Income Tax, AIR 1976 SC 10: (1976) 1 SCC 254: (1976) 1 SCR 461....

Hod

A kind of wooden tray with a handle having V shaped trough made of wood or metal attached to a long handle and usually carried over the shoulder it is a tool used by construction workers for carrying bricks or mortar...

comic strip

a brief sequence of drawings usually with characters drawn only sketchily as in a cartoon with dialog written in ldquoballoonsrdquo over a characters head and depicting a fictional and usually comical incident also called a cartoon Each comic strip contains typically from four to six panels arranged horizontally but widely varying arrangements are published In modern newspapers weekly comic strips are in color and daily strips are usually in black and white In some the story depicted may be serialized and continuous carried over from day to day or week to week Stories of adventure drama mystery or an otherwise non comical nature depicted in the same style are also called comic strips...

On a regular basis

On a regular basis, when a person is appointed to a post against a permanent vacancy on probation, his appointment is on a regular basis, but when a person is appointed to a post on a purely temporary or on an ad hoc basis, the appointment is not on a regular basis, K. Madhavan v. Union of India, AIR 1987 SC 2291 (1296): (1987) 4 SCC 655: (1988) 1 SCR 421. (Constitution of India, Art. 309)...

rational basis test

rational basis test : a test less intensive than strict scrutiny or an intermediate review that involves a determination of whether a statutory or regulatory classification of persons (as by age or offender status) has a rational basis and does not deny equal protection under the Constitution [if the classification neither affects a fundamental right, nor creates a suspect classification, nor is based on gender, then the rational basis test is applied "Charlton v. Kimata, 815 P.2d 946 (1991)"] called also rational relationship test ...

Rational basis test

Rational basis test, is a test less intensive than strict scrutiny or an intermediate review that involves a determination of whether a statutory or regulatory classification of person (as by age or offender status) has a rational basis and does not deny equal protection under the Constitution, Charlton v. Kimata, 815 p. 2d 946 (1991).Means a test less intensive than strict scrutiny or an intermediate review that involves a determination of whether a statutory or regulatory classification of persons (as by age or offender status) has a rational basis and does not deny equal protection under the constitution, Charlton v. Kimata, 815 p 2d 946 (1991)....

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