Fiscal Statutes - Law Dictionary Search Results
Home Dictionary Name: fiscal statutesFiscal Statutes
Fiscal Statutes, in construing fiscal statutes and in determining the liability of a subject to tax one must have regard to the strict letter of the law and not merely to the spirit of the statute or the, substance of the law. If the Revenue satisfies the Court that the case falls strictly within the provisions of the law, the subject can be taxed. If, on the other hand, the case is not covered within the four corners of the provisions of the taxing statute, no tax can be imposed by inference or by analogy or by trying to probe into the intentions of the legislature and by considering what was the substance of the matter, A.V. Farnandez v. State of Kerala, AIR 1957 SC 657 (661): 1957 SCR 837....
Fiscal indicators
Fiscal indicators, means such indicators as may be prescribed in either absolutes (in Rupees Crore) or as proportions to the Gross State Domestic Product or other magnitudes for the fiscal indicators, Rajasthan Agricultural Produce Markets Act, 2005, s. 2(g).Means such indicators as may be prescribed for evaluation of the fiscal position of the State Government, Rajasthan Fiscal Responsibility and Budget Management Act, 2005, s. 2(g).Means the measures such as numerical ceilings and proportions to gross state domestic product, as may be prescribed, for evaluation of the fiscal position of the State Government, Gujarat Fiscal Responsibility and Budgetary Management Act, 2005, s. 2(d).Means the measures such as numerical ceilings, as may be prescribed, for evaluation of the fiscal position of the State Government, Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005, s. 2(d).Means the measures such as numerical ceilings and proportion to gross domestic product, as may be ...
Fiscal deficit
Fiscal deficit, means the excess of total disbursement from the consolidated fund of the State (excluding repayment of debt) over the sum of revenue receipts, recovery of loans and non-debt capital receipts into the fund during a financial year, Rajasthan Agricultural Produce Markets Act, 2005, s. 2(f).Means the excess of total disbursements, from the Consolidated Fund of India, excluding repayment of debt, over total receipt into the fund (excluding the debt receipts), during a financial year, Fiscal Responsibility and Budget Management Act, 2003, s. 23(a).Means excess of total expenditure of State Govern-ment over the total non-debt receipt and thus represents those borrowing requirement, net of repayment during the year which needs to be serviced by way of internet and principal repayment, Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005, s. 2(c).Means the excess of total disbursements from the consolidated fund of the State (excluding repayment of debt) over tot...
Fiscal targets
Fiscal targets, means the numerical ceilings pre-scribed in either absolutes (in Rupees Crore) or as proportions to the Gross State Domestic Product or other magnitudes for the fiscal indicators, Rajasthan Fiscal Responsibility and Budget Management Act, 2005, s. 2(h)....
Income
Income, s. 4 of the Income-tax Act, defines the 'total income' to include all income, profits and gains from whatever source deprived. The definition of 'income' in Shaw Wallace & Co. case, 1932 (59) IA 206, as a periodical monetary return coming in with some sort of regularity, or expected regularity, from definite sources must be read with reference to the peculiar facts of that case. Money received 'under consequential loss policies, were income within the meaning of s. 2(6c) of the Income Tax Act, Raghuvanshi Mills Ltd. v. Commissioner of Income Tax, AIR 1953 SC 4: (1953) SCR 177.Income connotes a periodical monetary return 'coming in' with some sort of regularity, or expected regularity from definite sources, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax, AIR 1954 SC 470: (1955) 1 SCR 313.The expression 'income' in entry 54 of List I of the Seventh Schedule to the Government of India Act, 1935, and the corresponding entry 82 of List 1 of the Seventh Schedule to the Const...
Procurator fiscal
Procurator fiscal. Each of the inferior (Sheriff's) Courts in Scotland has its Procurator Fiscal, who acts, with deputies if necessary, as Public Prosecutor; and to make inquiry in to suspected offences in his area; under guidance of Crown Office Regulations. There are no coroners in Scotland....
fiscal
fiscal [Latin fiscalis, from fiscus basket, treasury] 1 : of or relating to taxation, public revenues, or public debt [ policy] 2 : of or relating to financial matters fis·cal·ly adv ...
fiscal year
fiscal year : an accounting period of 12 months ...
Fiscal
Fiscal, belonging to the revenue....
Frauds, Statute of
Frauds, Statute of, 29 Car. 2, c. 3 (A.D. 1676). This famous statute is said to have been famed by Sir Matthew Hale, Lord Keeper Guilford, and Sir Leoline Jenkins, an eminent civilian. Lord Nottingham used to say of it, that 'every line was worth a subsidy,' and it has been said that at all events the explanation of every line has cost a subsidy, no statute having been the subject of so much litigation. The statute, though it does not apply or have any Act corresponding to it in Scotland, was practically copied by the Irish Parliament in 7 Wm. 3, c. 12, applies generally to the British colonies, and, remarks Mr. Chancellor Kent (2 Com. 494, n. (d), 'carries its influence through the whole body of American juris-prudence, and is in many respects the most comprehensive, salutary, and important legislative regulation on record affecting the security of private rights.'The main object of the statute was to take away the facilities for fraud and the temptation to perjury which arose in verb...
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