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Wages

and any sum payable to such person by reason of the termination of his employment a r sarin v b c patil air 1951 bom 423 means remuneration payable to an employee under an award or settlement purshottam v … wages if the remuneration is to be paid daily or weekly it can be called wages but when it is monthly remuneration payable on the last day

Goodwill

is generated as the business is carried on and may be augmented with the passage of time cit v b c srinivasa setty air 1981 sc 972 1981 3 scc 460 1981 2 scr 938 the goodwill of a … that would be expected from the business veined as a mere collec tion of assets black s law dictionary 7th edn p 703 the advantage or benefit which is acquired by a business beyond the mere value

Banking

2000 5 scc 122 130 air 2000 sc 2181 banking regulation act 1949 10 of 1949 s 5 b c … respect of that business under entry 45 list i rustom cavasjee cooper v union of india 1970 1 scc 248 280 air 1970 sc 564 … banking means the accepting for the purpose of lending or investment of deposits of money from the public repayable on demand or otherwise and withdrawal by cheque draft order or otherwise

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Ownership

a claim to certain property it is the external form in which claims normally manifest themselves b gangadhar v b c rajalingam air 1996 sc 780 781 1995 5 scc 238 ownership denotes the relation between a person and … ownership does not always mean absolute dominion the more an owner for his advantage opens up his property for use

Payment

wane 1719 in 1 smith s l c payment is a recompense for service rendered bala subrahmanya rajaram v b c patil air 1958 sc 518 519 1958 scr 1504 ii payment implies gift of money by someone to … payment is the act of paying k s bawa v director of enforcement 1990 cr lj 1068 the payment of money before the day appointed is in law payment

Remuneration

subrahmanya rajaram v b c patil air 1958 sc 518 1958 scr 1504 payment compensation black s law dictionary 7th edn p 1298 the word remuneration must be given its meaning with reference to the context in … remuneration remuneration is only a mere formal version of payment bala subrahmanya rajaram v b c patil air 1958 sc 518 1958 scr 1504 payment compensation black s law dictionary 7th edn p 1298

Capital asset

does not include goodwill but the definitions in s 2 are subject to an overall restrictive clause cit v b c srinivasa setty 1981 2 scc 460 463 1981 2 scr 938 air 1981 sc 972 includes capital asset … capital asset the expression capital asset is defined in s 2 14 of the income tax act 1961 to mean property of any kind held by

Capital gains

45 and therefore its transfer is not subject to income tax under the head capital gains cit bangalore v b c srinivasa setty 1981 2 scr 938 1981 2 scc 460 air 1981 sc 972 the profit realised when … 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 12b as

Copyright

sherwood 1817 2 mer 435 stockdale v onwhyn 1826 5 b c 173 the law of copyright now depends mainly on the english copyright act 1911 1 2 geo 5 c 46 july 1 1912 and no … in an illegal or immoral publication southey v sherwood 1817 2 mer 435 stockdale v onwhyn 1826 5 b c 173 the law of copyright now depends mainly on the english copyright act 1911 1 2 geo 5

Group A, B, C and D posts

group a b c and d posts means the post under the government classified as group a b c and d posts

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