Exclusive - Law Dictionary Search Results
Home Dictionary Name: exclusiveExclusive licence
Exclusive licence, means a licence from a patentee which confers on the licensee, or on the licensee and persons authorised by him, to the exclusion of all other persons (including the patentee), any right in respect of the patented invention, and exclusive licensee shall be construed accordingly. [Patents Act, 1970, s. 2 (1) (f)]It means a licence which confers on the licensee or on the licensee and persons authorised by him, to the exclusion of all others persons (including the owner of the copyright) any right comprised in the copyright in a work, and 'exclusive licensee' shall be construed accordingly. [Copyright Act, 1957 (14 of 1957), s. 2 (j)]...
Exclusive
Having the power of preventing entrance debarring from participation or enjoyment possessed and enjoyed to the exclusion of others as exclusive bars exclusive privilege exclusive circles of society...
Exclusive
Exclusive, when the expression is explicit, the expression is conclusive, alike in what it says and in what it does not say. These give to the Central Government an exclusive right to act in place of the persons who are entitled to make claim or have already made claim. The expression 'exclusive' is explicit and significant, Charan Lal Sahu v. Union of India, (1960) 1 SCC 613: AIR 1990 SC 1480 (1533). [Bhopal Gas Leak Disaster (Processing of Claims) Act, 1985, ss. 3, 4]...
Wholly and exclusively
Wholly and exclusively, the expression 'wholly and exclusively' used in s. 10(2)(xv) of the Income Tax Act, 1922 does not mean 'necessarily'. Ordinarily it is for the assessee to decide whether any expenditure should be incurred in the course of his or its business. Such expenditure may be incurred voluntarily and without any necessity and if it is incurred for promoting the business and to earn profits, the assessee can claim deduction under s. 10(2)(xv) of the Act even though there was no compelling necessity to incur such expenditure. It is relevant to refer at this stage to the legislative history of s. 37 of the Income Tax Act, 1961 which corresponds to s. 10(2)(xv) of the Income Tax Act, 1922. An attempt was made in the Income Tax Bill of 1961 to lay down the 'necessity' of the expenditure as a condition for claiming deduction under s. 37. S. 37(1) in the Bill read 'any expenditure . . . laid out or expended wholly, necessarily and exclusively for the purposes of the business or ...
Wholly and exclusively for purposes of such business
Wholly and exclusively for purposes of such business, the expenditure of a capital nature is certainly not an expenditure which is deductible for computing profits though it may be an expenditure wholly and exclusively laid out for the purposes of the business etc. If this expenditure is not a capital nature but of a revenue nature it is certainly deductible under this clause. All other expenditure which is not included in (i) or (xiv) or which is not at the very inception deductible as an overriding charges on the whole of the profit-making apparatus will be deductible if it is laid out or expenditure wholly and exclusively for pur-poses of such business, C.I.T. Kerala v. Travancere Sugar and Chemicals Ltd., AIR 1973 SC 982 (986). [Income Tax Act (11 of 1922), s. 10(2) (xv)]...
annual exclusion
annual exclusion : the maximum amount that a person can give each year as a gift without having to pay a gift tax NOTE: The annual exclusion is currently $10,000 per donee. ...
exclusive listing
exclusive listing a written contract giving a real estate agent the exclusive right to sell a property for a specific timeframe. Source: U.S. Department of Housing and Urban Development ...
Expressio unius personae vel rei est exclusion alterius
Expressio unius personae vel rei est exclusion alterius, means the express intention of the person or thing is the exclusion of another, Khemka & Co. (Agencies) (P) Ltd. v. State of Maharashtra, (1975) 2 SCC 22: 1975 SCC (Tax) 227 SCC para 47: AIR 1975 SC 1549....
exclusion
exclusion 1 : the act of excluding or state of being excluded ;specif : refusal of entry into the U.S. by immigration officials [review of deportation and orders] compare deportation 2 : something that excludes or is excluded: as a : a part of an insurance contract that excludes specified risks from coverage compare condition, declaration b : an amount that is excluded from tax liability [a $10,000 annual per donee for gifts "W. M. McGovern, Jr. et al."] compare credit, deduction, exemption ex·clu·sion·ary [-zhə-ner-ē] adj ...
exclusive
exclusive 1 a : excluding or having power to exclude others [ right to their respective writings and discoveries "U.S. Constitution art. I"] b : being independent from or not shared by others : sole [ control] [ use] 2 : limiting or limited to possession, ownership, or use by a single individual or group [an contract] [an lease] ...
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial