Instalment - Law Dictionary Search Results
Home Dictionary Name: instalmentInstalment
Instalment, a portion of a debt. When a debt is divided into two or more parts, payable at different times, each part is called an instalment, and the debt is said to be payable by instalments. A provision making the balance of instalments payable on default in payment of one instalment is not a penalty, and there is no objection to it in point of law, Wallingford v. Mutual Society, (1880) 5 App Cas 685. Where, in a county Court, judgment has been obtained for not more than 20l., exclusive of costs, the Court may order payment by instal-ments, (English) County Courts Act, 1934, s. 96, replacing (English) County Courts Act, 1888, s. 105, as amended by s. 18(1) of the (English) County Courts Act, 1919.As to delivery by instalments of goods sold, see s. 31 of the Sale of Goods Act, 1893, by which, 'unless otherwise agreed, the buyer is not bound to accept delivery by instalments'; and see HIRE PUR-CHASE.An instalment due according to the terms of an allotment of shares in a limited compan...
Installation
Installation, means any premises wherein any place has been specially prepared for the manufacture (filling) or storage of compressed gas cylinder. [Gas Cylinders Rule, 2004, R. 2(xxviii)]Installation, the ceremony of inducting or investing with any charge, office, or rank, as the placing of a bishop into his see, a dean or prebendary into his stall or seat, or a knight into his order.Means any composite electrical unit used for the purpose of generating, transforming, transmitting, converting, distributing or utilizing energy. [Indian Electricity Rules, 1956, R. 2 (1) (y)]...
Installed
Installed, would certainly mean to place an apparatus imposition for service or use when an engine is fixed in a vehicle it is installed within the meaning of the expression, C.I.T. v. Mir Mohd Ali, AIR 1964 SC 1693 (1697). [Income Tax Act, s. 10(2)]...
installing
the act of installing something as equipment...
Capital payable by instalments
Capital payable by instalments, be treated as income, Beattie v. Secretary of State for Social Security (CA), (2001) 1 WLR 1404....
Installation of machinery
Installation of machinery, when an engine is fixed in a vehicle it is within the meaning of the expression in cls. (vi) and (via), Commissioner of Income Tax v. Mir Mohd. Ali, AIR 1964 SC 1693: (1964) 7 SCR 846. [Income Tax Act, 1922, s. 102(vi), s. 102(via)]...
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...
Tax admitted
Tax admitted, the expression 'tax admitted' in the proviso to s. 9(1) of the U.P. Sales Tax Act, 1948 means that admitted in the memorandum of appeal, s. 9 can be made wholly useless. All that an assessee has to do is not to admit his liability in the memorandum of appeal, whatever his stand might have been before the assessing authority. Ordinarily no interpretation should be placed on a provision which would have the effect of making the provision either otios or a dead letter. Further, to find out the true meaning of the expression 'tax admitted' one must take into consideration the remaining words of the proviso namely 'or such instalments thereof as may become payable'. Those words furnish a key to the interpretation. If one of the conditions for maintainability of the appeal is payment of the instalments which have become payable under r. 41(2), it means that the admission that has got to be taken into consideration is that made before the assessing authority and not before the a...
Salary or wages
Salary or wages, means all remuneration (other than remuneration in respect of over-time work) capable of being expressed in terms of money, which would, if the terms of employment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include--(i) any other allowance which the employee is for the time being entitled to;(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles.(iii) any travelling concession;(iv) any bonus (including incentive, production and attendance bonus);(v) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for t...
Rent
Rent [fr. reditus Lat.], a certain profit issuing yearly out of lands and tenements corporeal; it may be regarded as of a two fold nature--first, as some-thing issuing out of the land, as a compensation for the possession during the term; and secondly, as an acknowledgment made by the tenant to the lord of his fealty or tenure. It must always be a profit, yet there is no necessity that it should be, as it usually is, a sum of money; for spurs, capons, horses, corn, and other matters, may be, and occasionally are, rendered by way of rent; it may also consist in services or manual operations, as to plough so many acres of ground and the like; which services, in the eye of the law, are profits. The profit must be certain, or that which may be reduced to a certainty by either party; it must issue yearly, though it may be reserved every second, third, or fourth year; it must issue out of the thing granted, and not be part of the land or the thing itself.Consideration paid, usu. periodically...
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