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Packed parcels

Packed parcels, the name for a consignment of goods, consisting of one large parcel made up of several small ones (each bearing a different address) collected from different persons by the immediate consignor (a carrier), who...

Railway Rolling Stock Protection Act, 1872

protects from distress by a landlord rolling stock not being the property of the tenant. The (English) Railway Companies Act, 1867 (30 & 31 Vict. c. 127), s. 4, and the Railway Companies (Scotland) Act, 1867 (30

Qualified institutional buyer

Qualified institutional buyer, means a financial in-stitution, insurance company, bank, State financial corporation, State industrial development corpora-tion, trustee or any asset management company making investment on behalf of mutual fund or provident fund or gratuity fund...

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Public services and posts

is owned and controlled by the Government, or a Government Company as defined in s. 617 of the Companies Act, 1956 (1 of 1956); (iv) an educational institution owned and controlled by the Government, which receives grant-in-aid

Public sector bank

Bank of India (Subsidiary Banks) Act, 1959, a corres-ponding new bank constituted under s. 3 of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 or under s. 3 of the Banking Companies (Acquisition and Transfer

Public property

under, a Central, Provincial or State Act; or (v) any company as defined in s. 617 of the Companies Act, 1956; or any institution, concern or undertaking which the Central Government may, by notification in the Official

Public officer

in a public capacity under the Crown or public authority, more particularly a person appointed by joint-stock banking companies, etc., under 7 Geo. 4, c. 46, s. 9, or otherwise to sue and be sued on behalf

Profit

Profit, connotes the idea of pecuniary gain, Shivamurthy Swami v. Agadi Sanganna Andanappa, 1971 (3) SCC 870; Revenna Subanna v. GS Kaggerappa, AIR 1954 SC 653. Means whatever the company finally earns after deducting all the...

Production

Production, has a wider connotation than the word 'manufacture'. While every manufacture can be characterised as production, every production need not amount to manufacture, Commissioner of Income Tax v. NV Budharaga & Company, 1993 (70) Taxman...

Principal officer

Principal officer, in relation to a company, means the secretary, manager, director or managing director of such company. [The West Bengal Value Added Tax Act, 2003, s. 2(31)]

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