Gain - Law Dictionary Search Results
Home Dictionary Name: gain Page: 2Gains 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)]...
Hide and Gain
Hide and Gain, arable land, Co. Litt. 85 b....
Gainfully occupied person
Gainfully occupied person, means a person who is engaged in any trade, business, profession, office, employment or vocation and is wholly or sub-stantially dependent thereon for a livelihood, or a person who, though temporarily unemployed, is normally so engaged and dependent. [Personal Injuries (Emergency Provisions) Act, 1962 (59 of 1962), s. 2(4)]...
capital gains tax
capital gains tax A tax on income derived from the sale of a capital asset, like real estate holdings or investments. Source: FindLaw ...
Dishonestly
Dishonestly, The word dishonestly is defined by s. 24 of Indian Penal Code. A person who does anything with the intention of causing wrongful gain to one person or wrongful loss to another person, Dr. S. Dutt v. State of Uttar Pradesh, AIR 1966 SC 523: (1966) 1 SCR 493.A person is said to do a thing dishonestly when he does anything with the intention of causing wrongful gain to one person or wrongful loss to another person. In the case of illegal seizures and impounding of cattle, the person seizing the cattle does not gain anything. He simply takes the cattle to the pound. He does not use them for his purpose, Ramratan v. State of Bihar, AIR 1965 SC 926 (931). (Penal Code, 1860, s. 378: Cattle Trespass Act, 1871, s. 10)--Whoever does anything with the intention of causing wrongful gain to one person or wrongful loss of another person, is said to do that thing dishonestly (Indian Penal Code, 1860, s. 24)....
Main Pot
Main Pot : a step in calculating tax liability under Internal Revenue Code section 1231 in which all qualified transactions are netted to determine if the result is a loss or gain called also Big Pot Hodge Podge hotchpot; compare casualty pot NOTE: The transactions netted in the Main Pot are as follows: casualties in the Casualty Pot if they have netted a gain; sales, exchanges, or condemnations of depreciable or real property used in a business for more than one year; and condemnations of capital assets held for more than one year in connection with a trade or business or transaction entered into for profit. If the net result is a gain, then the transactions are treated as long-term capital gains and losses. ...
recapture
recapture -tured -tur·ing 1 : to capture again 2 : to recover or take (as an excess or gain) by law or agreement ;esp : to recover (a tax benefit) by higher or additional taxation of income or property that ceases to qualify for a credit or deduction or by taxing gain realized from the sale or exchange of such property [the government recaptured the depreciation by taxing the gain resulting from the difference between the sale price and the basis after depreciation] n 1 : the act or process of recapturing 2 : an amount recaptured or subject to recapture ...
Business
Business, 'business' is a word of wide import. It has no definite meaning. Its perceptions differ from private to public sector or from institutional financing to commercial banking, Mahesh Chandra v. Regional Manager Uttar Pradesh Financial Corpn., AIR 1993 SC 935 (939): (1993) 2 SCC 279. [State Financial Corporation Act, (63 of 1951), s. 24]--Business would undoubtedly be property, unless there is something to the contrary in the enactment, J.K. Trust Bombay v. CIT, (1958) SCR 65: 1957 SCJ 845: AIR 1957 SC 846.Business includes the activities carried on by any public body, Halsbury's Laws of England, Vol. 20, 4th Edn., Para 546, p. 357. The term 'business' includes every trade, occupation and profession. The word 'business' has no technical meaning, but is to be read with reference to the subject and intent of the Act in which it occurs. The term 'business' means an affair requiring attention and labour as the chief concern; mercantile pursuits, that one does for livelihood, occupati...
Carries on business
Carries on business, the mere fact that the expression, 'carries on business' is used along with the other expressions, does not mean that it would apply only to such persons to whom the other two expressions regarding residence or of personally working for gain would apply, Union of India v. Ladulal Jain, AIR 1963 SC 1681 (1683). [Constitution of India, Arts. 298, 300]Carries on business, as enumerated and 'personally works for gain' connotes two different meanings. The phrase 'carries on business' under s. 62(2) at a certain place would mean having an interest in a business at that place, a voice in what is done a share in the gain or loss and some control thereon. Such business may be carried at the place through an agent or a manager through a servant, Jay Engineering Works Ltd. v. Ramesh Aggarwal, MIPR, 2007 (1) 6058 (Del).Carries on business, in a particular commodity must depend upon the volume, frequency, continuity and regularity of transactions of purchase and sale in a class...
Organised crime
Organised crime, in Europe, the terms 'organised crime' and 'professional crime' are largely inter-changeable. As compared to American standards, the European criminal orgainsations are small-scale and short-lived. Such crimes are defined as involving system of specifically defined relation-ship with mutual obligation and privileges and association of a small group of criminals for the execution of the intended crime. The eruption of organised crime in India is of recent origin and is at the initial stage. It is the need of the hour to control such criminal activities which tempt the persons involved to amass huge profit. Such crimes have not only a legal facet but have a social and economic aspect which is required to be felt and dealt with by all concerned including the judiciary, the executive, the politicians, the social reformers, the intelligentsia and the law enforcing agency, State of Maharashtra v. Bharat Chaganlal Raghani, (2001) 9 SCC 1.Means any continuing unlawful activity...
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