Co V Asset - Law Dictionary Search Results
Capital gains
computed and charged under s. 12B or any other provisions of the Act, Commissioner of Income-Tax (Central), Delhi v. Harprasad & Co. (P.) Ltd., (1975) 3 SCR 696: AIR 1975 SC 1282: (1975) 3 SCC 868. The … SCC 460: AIR 1981 SC 972. The profit realised when a capital asset is sold or exchanged, Black's Law Dictionary, 7th Edn. … Capital gains, capital gains would be covered by the definition of 'income' in sub-s. (6C) of s. 2, only if they were chargeable under s.
Claim
he is ordinarily resident in a convention state or because he has assets in such State, De Beer v. Kannar Co. (CA), (2003) 1 WLR … for something as due' or 'to seek or ask for on the ground of right', Hameedia Hardware Stores v. B. Mohan Lal Sowcar, (1988) 3 SCR 384: (1988) 2 SCC 513: AIR 1988 SC 1060 (1068). [T.N. … to a remedy, relief or property, either general, or before a tribunal, a pleading in an action, see County Courts Act, 1934, and STATEMENT OF CLAIM. Means 'a demand for something as due' or 'to seek or
Capital expenditure and revenue expenditure
or working it with a view to produce the profits it is a 'revenue expenditure', Assam Bengal Cement Co. v. C.I.T, AIR 1955 SC 89 (96). [Income-tax Act, 1922, s. 10(2)(xv)] … If on the other hand it is made not for the purpose of bringing into existence any such asset or advantage but for running the business or working it with a view to produce the profits it
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Premium
Premium, a consideration; something given to invite a loan or a bargain; the consideration paid to the assignor by the assignee … payment for renewal of a policy of assurance. When shares are issued for consideration other than cash the value of the assets transferred in excess of the par value of shares issued would be regarded as premium … shares are issued for consideration other than cash the value of the assets transferred in excess of the par value of shares issued would be
Revenue expenditure
or working it with a view to produce the profits it is a revenue expenditure, Assam Bengal Cement Co. Ltd. v. CIT, AIR 1955 SC 89 (96). [Income Tax Act, 1922, s. 10(2) (xv)] … Revenue expenditure, if expenditure is made not for the purpose of bringing into existence any such assets or advantage but for running the business or working it with a view to produce the profits it
Floating charge
be a going concern, or until the creditor in some way or other intervenes, See Government Stock, etc., Co. v. Manila Ry. Co., 1897 AC 86, per Lord Macnaghten. The charge becomes fixed and enforceable by the charges … 1915, s. 27, and may be said to denote a security which is an equitable charge on the assets for the time being of a going concern. It allows of the business being carried on and the
Debenture
to owe] may be defined generally as a charge in writing [not necessarily sealed, see British India, etc., Co. v. Commissioners of Inland Revenue, (1881) 7 QBD 165] of certain pro-perty with the repayment at a time fixed … defined as including debenture stock, bonds or other securities of a company whether constituting a charge on the assets of the company or not. The charge created by debentures as a rule is fixed on the company's
Goods
SCC 200; State of Andhra Pradesh v. National Thermal Power Corpn. Ltd., (2002) 5 SCC 203; McKinley Telephone Co. v. Cumberland Telephone Co., 152 Wis 359: 140 NW 38: 1913 Wisc Lexis 77. Means chery kind of movable … a notification is to increase resources of the state, conditions stipulated therein cannot be ignored. The words 'capital assets' are very wide. The include all types of properties including consumables, raw materials, components etc. However, capital assets
Liquidator
of the company and is personally liable for contracts entered into by him as such, Stead, Hazel & Co. v. Cooper, (1933) 1 KB 870. … which such sanction is not required. The duties of a liquidator are to collect, administer, and distribute the assets, having regard to the direction of creditors and contributories, and subject to the requirements of the Act. He
Actual cost of an asset
Matched in: Term Actual cost of an asset
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