Gain - Law Dictionary Search Results
Home Dictionary Name: gaingain
gain 1 : an increase in value, capital, or amount compare loss capital gain : a gain realized on the sale or exchange of a capital asset (as a stock or real estate) ca·su·al·ty gain : a gain realized by an insured because property insurance benefits paid for a loss from a casualty or theft are greater than the adjusted value of the insured asset long-term capital gain : a capital gain realized on the sale or exchange of an asset held for more than a specified period (as a year) ordinary gain : a gain from the exchange or sale of an asset that is not capital short-term capital gain : a capital gain realized on the sale or exchange of an asset held for less than a specified period (as a year) that is treated as ordinary income under federal income tax laws 2 pl in the civil law of Louisiana : a class of community property that reflects the increase in property value contributed by the common skill or labor of the spouses gain vb ...
Capital gains
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 noticed already, s. 12B as modified by the Finance Act 1949, did not charge any 'capital gains' arising between April 1, 1948, and April 1, 1957. Indeed s. 12B was not operative in these years (1948-57). During this period, 'capital gains', whether on the positive or the negative side, could not be computed and charged under s. 12B or any other provisions of the Act, Commissioner of Income-Tax (Central), Delhi v. Harprasad & Co. (P.) Ltd., (1975) 3 SCR 696: AIR 1975 SC 1282: (1975) 3 SCC 868.The goodwill generated in a newly commenced business cannot be described as an 'asset' within the terms of s. 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 a capital asset is sold or exchanged, B...
Wrongful gain
Wrongful gain, Wrongful gain includes wrongful retention and wrongful loss includes being kept out of the property as well as being wrongfully deprived of property. Therefore when a particular thing has gone into the hands of a servant he will be guilty of misappropriating the thing in all circumstances which show a malicious intent to derive the master of it, Krishna Kumar v. Union of India, AIR 1959 SC 1390 (1392). (Indian Penal Code, s. 24)Wrongful gain is gain by unlawful means of property to which the person gaining is not legally entitled. (Indian Penal Code, s. 23)...
Wrongful gain, wrongful loss
Wrongful gain, wrongful loss, a person can be said to have dishonest intention if in taking the property it is his intention to cause gain, by unlawful means, of the property to which the person so gaining is not legally entitled or to cause loss, by wrongful means, of property to which the person so losing is legally entitled. It is further clear from the definition that the gain or loss contemplated need not be a total acquisition or a total deprivation but it is enough if it is a temporary retention of property by the person wrongfully gaining or a temporary 'keeping out' of property from the person legally entitled, K.N. Mehra v. State of Rajasthan, AIR 1957 SC 369 (372). (Indian Penal Code, s. 378 and 23)...
Gains of learning
Gains of learning, s. 2(b) 'gains of learning' means all acquisitions of property made substantially by means of learning, whether such acquisitions be made before or after the commencement of this Act and whether such acquisitions be the ordinary or the extraordinary result of such learning. [Hindu Gains of Learning Act, 1930 (30 of 1930), s. 2(b)]...
capital gain
capital gain see gain ...
casualty gain
casualty gain see gain ...
long-term capital gain
long-term capital gain see gain ...
ordinary gain
ordinary gain see gain ...
short-term capital gain
short-term capital gain see gain ...
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