Finance Act 2002 Section 161 - Law Dictionary Search Results
Home Dictionary Name: finance act 2002 section 161 Page: 2Public authority
Public authority, in the policy statement is not a term of art. It must be construed in a purpose way, taking particular account of the context, McFarland HL(NI) (in re:), (2004) 1 WLR 1289.Is a body, not necessarily a country council, municipal corporation or other local authority, which has public or statutory duties to perform and which perform those duties and carries out its transactions for the benefit of the public and not for private profit, Halsbury's Laws of England, 3rd Edn., Vol. 30, p. 682.Means any authority or body established or con-stituted,--(i) by or under the Constitution;(ii) by any law made by the appropriate Government,and includes any other body owned, controlled or substantially financed by funds provided directly or indirectly by the appropriate Government. [Freedom of Information Act, 2002 (5 of 2003), s. 2(f)]Public Authority--Karnataka University being an authority under Article 12 of the constitution is covered by the definition of public authority, Shivan...
By-laws, or bye-laws
By-laws, or bye-laws [fr. bilagines, from by, Sax., pagus, civitas, and lagen, lex, Spelm.], the laws, regulations, and constitutions of corporations, for the government of their members. See per Lord Russell, C.J., in Kruse v. Johnson, (1898) 2 QB 91. They are binding, unless contrary to law, or unreasonable, and against the common benefit, and then they are void.No trading company is allowed to make by-laws which may affect the crown, or the common profit of the people under penalty of 40l., unless they be approved by the chancellor, treasurer, and chief justices, or the judges of assize, 19 Hen. 7, c. 7.County Councils and Borough Councils under Local Government Act, 1933 (23 & 24 Geo. 5, c. 51) (English) s. 249; may make by-laws for the good rule and government of the whole or any part of the county or borough, as the case may be, and for the prevention and suppression of nuisances; Provided that by-laws made under this section by a County Council shall not have effect in any borou...
Plant
Plant, has been defined as the tools, machinery, fixtures, buildings, grounds, etc. of a factory or business; the apparatus or equipment for a certain mechanical operation or process, Steel City Beverages Ltd. v. State of Bihar, (1996) 1 Pat LJR 868.Plant, has frequently been used in fiscal and other legislation. It is one of a fairly large category of words as to which no statutory definition is provided ('trade', office even 'income' are others), so that it is left to the court to interpret them. It naturally happens that as case follows case, and one extension leads to another, the meaning of the word gradually diverges from its natural or dictionary meaning. This is certainly true for plant, I.R.C. v. Scottish & Newcastle Breweries Ltd., (1982) 1 WLR 322: (1982) 2 All ER 230: 55 TC 252 (HL).Plant, in the relevant sense, although admitted not a term of art, and therefore part of the general English tongue, is not, in this sense, an ordinary word, but one of imprecise application, an...
Sale price
Sale price, 'Sale Price' means the amount payable to a dealer as consideration for the sale of any goods, less any sum allowed as cash discount according to the practice normally prevailing in the trade, but inclusive of any sum charged for anything done by the dealer in respect of the goods at the time of or before the delivery thereof other than the cost of freight or delivery of the cost of installation in case where such cost is separately charged and the expression 'purchase price' shall be construed accordingly, Shree Gopal Industries Ltd. v. State of Rajasthan, AIR 1971 SC 2054: (1971) 2 SCC 532.(ii) Under s. 4 of the Madhya Pradesh General Sales Tax Act, 1958 the liability to pay tax is that of the dealer. The purchaser has no liability to pay tax. There is no provision in the Act from which it can be gathered that the Act imposes any liability on the purchaser to pay the tax imposed on the dealer. If the dealer passes on his tax burden to his purchasers he can only do it by au...
Vegetables
Vegetables, as understood in common parlance are not products of manufacture unless, agriculture is an industry for certain purposes and vegetables are products of the Industry, Saraswati Sugar Mills v. Haryana State Board, AIR 1992 SC 228.The word 'vegetables' in taxing statutes is to be understood as in common parlance, Vegetables in item 6 does not include betel leaves, Ramavatar Budhaiprasad v. Asst. Sales Tax Officer, AIR 1961 SC 1325 (1327): (1962) 1 SCR 279. [C.F. and Bezar Sales Tax Act, (21 of 1947), Sch. II, Item 6]The word 'vegetables' should be understood as denoting the class of vegetables which are grown in kitchen garden or in a farm and are used for the tables. There can be no dispute that both chillies and lemons are grown in kitchen gardens or at any rate in farms and they are used for the tables, Mangulu Sahu Ramahari Sahu v. Sales Tax Officer, AIR 1974 SC 390: (1972) 4 SCC 423. [Orissa Sales Tax Act, 1947, s. 6]The word 'vegetables' is not defined in the Act and it ...
Betting
Betting. For definition and for s. 18 of the (English) Gaming Act, 1845 (8 & 9 Vict. c. 109), see WAGER.Bets are irrecoverable at law by virtue of s. 18 of the (English) Gaming Act, 1845, and the (English) Gaming Act, 1892 (55 & 56 Vict. c. 9). The latter statute gets rid of the decision in Real v. Anderson, (1884) 13 QBD 779; and see Tatam v. Reeve, (1893) 1 QB 44; and De Mattos v. Benjamin, (1894) 70 LT 560. In the case of a cheque given in payment of a gaming transaction the combined effect of s. 1 of the (English) Gaming Act, 1710 (9 Anne, c. 14), and ss. 1 and 2 of the (English) Gaming Act, 1835, was that if it was paid to any indorsee or holder, the amount so paid could be recovered by the drawer from the payee, Dey v. Mayo, (1920) 2 KB 346; Sutters v. Briggs, (1922) 1 AC 1. The Gaming Act, 1922, does away with this position.The (English) Betting Act, 1853 (16 & 17 Vict. c. 119)--as to which see Reg. v. Brown, (1895) 1 QB 119--elaborately provides for suppressing of houses, rooms...
Development
Development, means the carring out of building, engineering,mining or other operations in, on over or under land or the making of any material change on any building or land, or planting of any tree on land and includes development. [Delhi Metro Railway (Operation and Maintenance) Act, 2002 (60 of 2002), s. 2(c)]Development with its grammatical variations means the carrying out of building, engineering, mining or other operations in, on, over or under land or the making of any material change in any building or land and includes redevelopment. [Delhi Development Act, 1957, s. 2(d)]The word 'development' in, s. 10(20A) of the IT Act, should be understood in its wide sense. There is no warrant to exclude all development programmes relating to any industry from the purview of the word 'development' in the said sub-section. There is no indication in the Act that development envisaged therein should confine to non-industrial activities. Development of a place can be accelerated through vari...
Investment company
Investment company, an 'investment company' was defined in s. 109(i) of the Act as meaning a com-pany whose business consisted wholly or mainly in the dealing in or holding of investments. The statutory percentage in the case of an investment company (whether Indian company or not) was fixed at 90 per cent by S. 109 (iii)(1) of the Act. It is significant that even in this Act, the restricted definition of the expression 'investment company' as appearing in s. 372(11) of the Companies Act, 1956 was not adopted by the Legislature. By Finance Act, 1966, which came into force with effect from April 1, 1966, the meaning of the term 'investment company' was clarified by amending clause (ii) of S. 109 and providing therein that investment company meant a company whose gross total income consisted mainly of income which, if it had been the income of an individual, would have been regarded as unearned income, Nawn Estate (P) Ltd. v. CIT, AIR 1977 SC 153 (161): (1977) 1 SCR 798: (1977) 1 SCC 7.I...
Receipt
Receipt, an acknowledgment in writing of having received a sum of money, which is prima facie but not conclusive evidence of payment, Skaife v. Jackson, (1824) 3 B&C 421.The act of receiving something; a written acknow-ledgment that something has been received, Black's Law Dictionary, 7th Edn.A stamp duty first imposed in 1783 was progressively ad valorem, until 1853, when the uniform 1d. rate was imposed; this was increased to 2d. by the Finance Act, 1920.For the purposes of the Stamp Act, 1891, the expression 'receipt' is defined (s. 101) as including--(1) Any note, memorandum, or writing whereby any money amounting to two pounds or upwards, or any bill of exchange or promissory note for money amounting to two pounds or upwards, is acknow-ledged or expressed to have been received or deposited or paid, or whereby any debt or demand, or any part of a debt or demand, of the amount of two pounds or upwards, is acknowledged to have been settled, satisfied, or discharged, or which signifie...
Ship
Ship, the carriage of goods by Sea Act, 1925 (26 of 1925). [XXVI of 1925, Sch. Art. 1, Cl. (d)]Ship, means any vessel used for the carriage of goods by sea.A type of vessel used or intended to be used in navigation, Black's Law Dictionary, 7th Edn., p. 1382.In the Merchant Shipping Act, 1894 (57 & 58 Vict. c. 60), by s. 742, 'includes every description of vessel used in navigation not propelled by oars.' [This definition has been adopted by the Workmen's Compensation Act, 1925 (15 & 16 Geo. 5, c. 34), s. 48(1)]'Foreign-going ship,' by the same s., 'includes every ship employed in trading, or going between some place or places in the United Kingdom, and some place or places situate beyond the following limits: that is to say, the coasts of the United Kingdom, the Channel Islands and the Isle of Man, and the continent of Europe, between the river Elbe and Brest inclusive'; and'Home-trade ship' includes 'every ship employed in trading or going' within the above limits; and'Home-trade pass...
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