Expense - Page 2 - Law Dictionary

home office expense

home office expense Expenses arising from operating a business in a qualified manner in your home. ...

Direct loss and or expense, in JCT forms means that which arises naturally and in the ordinary course of things, F.G. Minter Ltd. v. Welsh Health Technical Services Organisation, (1980) 13 BLR I, CA....

Administration expense

Administration expense, means necessary expenditure made by an administrator in managing and distributing an estate. These expenses are deductible even if not actually incurred by the time return is filed, Black Law Dictionary, 7th Edn., p. 45....

employment expenses

employment expenses Ordinary and necessary expenses necessary to perform the duties for which an employee was hired. ...

entertainment expenses

entertainment expenses Employment expenses that have an element of entertainment that is directly related to conducting business. ...

Bankruptcy expenses

Bankruptcy expenses, means all fees, costs, charges and other expenses incurred in the course of bankruptcy proceedings, Halsbury's Laws of England, Vol. 3(2), 4th Edn., Para 562, p. 306....

Personal expenses

Personal expenses, would include expenses on the person of the assessee or to satisfy his personal needs, such as clothes, food, etc. or purposes not related to the business for which the deduction is claimed, State of Madras v. G.J. Coelho, AIR 1965 SC 321: (1964) 8 SCR 60: (1964) 2 SCJ 400: (1964) 1 SCWR 258: (1964) 53 ILR 186....

Testamentary expenses

Testamentary expenses, including the costs of an administration action [Penny v. Penny, (1879) 11 Ch D 440] As to whether the expression includes estate duty, see Porte v. Williams, (1911) 1 Ch 188, and cases there cited. Generally, it includes estate duty on personalty [Re Trenchard, (1905) 1 Ch 82], and primarily, in respect of land, subject to payment as provided by ss. 16 to 18 of the Law of Property Act, 1925. Under the Intestates Estates Act, 1890, s. 6, now repealed, it included expenses of letters of administration and of administration generally, Re Twigg, (1892) 1 Ch 579....

credit related expenses

credit related expenses foreclosed property expenses plus the provision for losses. Source: U.S. Department of Housing and Urban Development ...

Stowing expenses

Stowing expenses, See, CIT v. Kirkend Coal Co. Ltd., AIR 1970 SC 1586 (1587): (1970) 3 SCC 867. [Income-tax Act, 1922, s. 10(2)(xx)]...

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