Computer - Law Dictionary Search Results
Taxable territories
with s. 4 of the Indian Act, have reference to chargeability of income and not merely to its computation, Union of India v. Madan Gopal Kabra, AIR 1954 SC 158 (161): (1954) SCR 541.
Sunday
act or taking any proceeding, Sunday, Christmas Day, and Good Friday are not to be reckoned in the computation of such limited time (r. 2), see also Milch v. Frankau, (1909) 2 KB 100.
Such doubly taxed income
has reference to the foreign income which is again being subjected to tax by its inclusion in the computation of the income under the Act and not the same income under an identical head of income under
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Smallness of profit
at the assessable profits the Income-tax Officer may disallow many expenses actually incurred by the assessee; and in computing his income, he may include many items on notional basis. But the commercial or accounting profits are the
Reserve and provision
meanings both the words are more or less synonymous and connote the same idea. Since the rules for computation of capital contained in the Second Schedule to the Act proceed on the basis of the formula of
Reserve
designated as 'Undivided Profits' is a part of the reserves and has to be taken into account when computing the capital and reserves within R. 2(1) of Schedule II of the Act, First National City Bank v.
Regular assessment
Regular assessment, section 148 mandates the Assessing Officer to serve a notice on the assessee before making the assessment, reassessment or re-computation under s. 147. From the aforemen-tioned provisions, it is manifest that an initial assessment...
Property
received by an assessee, is property since it is of great importance, to an assessee, as containing a computation, of his total assessable income and, as a determination, of his tax liability, Ishwarlal v. State of Maharashtra,
Profit bonus
Profit bonus, a profit bonus is strictly not wages, at least not for the purpose of computing liability to income-tax; it is not an expense in the ordinary sense of the term, incurred for the
Post entry
payment of custom; which oath must be attested by the collector or comptroller, or their deputies, who then compute the duties and set down on the back of the certificate the several sums to be paid, McCull.
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