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Extinguishment

collateral interest, or the supersedure of one interest by another and greater interest in that out of which it is derived. It is of various natures as applied to various rights. The cessation or cancellation of some

Hire

Hire [locatio, conductio, Lat.], a bailment for a reward or compensation. It is divisible into four sorts:-(1) The hiring of a thing for use (locatio rei). (2) The hiring of

Possession

physical control over the same cannot be treated to be in its possession, notwith-standing his physical control over it, Ram Krishna v. Bhagwan Baksh Singh, (1961) All LJ 301. Possession, implies dominion and control and the consciousness

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Income

Matched in: Term Income

Consideration

(9 of 1872), s. 2(d)] Consideration does not mean incidental or collateral examination of any matter by the Income-tax Officer in the process of assessment. There must be something in the assessment order to show that the

Fraud

is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another's loss. It is a cheating intended to got an

Judgment

the grounds on which such decision is based, Petlad Turkey Red Dye Works Co. Ltd. v. Commissioner of Income Tax, AIR 1963 SC 1484: (1963) Supp 1 SCR 871. [Income Tax Act, 1922, s. 66(5)] A judgment

Settled land

it, or permanently to convert the whole or part of the settled land into money and receive the income derived from its investment instead of the rents of the estate. The Acts regarded the tenant for life

Trial

by a competent court of the facts or laws in dispute, or put in issue in a case. It is the judicial examination of issues between the parties, whether they are of law or of fact, Sajjan

Will, Estate at

grantee or lessee to the possession of land during the pleasure of both the grantor and himself, yet it creates no sure or durable right, and is bounded by no definite limits as to duration. It must

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