Intangible Tax - Law Dictionary Search Results

(1963) 1 Supp SCR 586. Goods includes all types of movable properties whether those propertices be tangible or intangible, Tata Constaltancy Services v. State of Andhra Pradesh, (2005) 1 SCC 308. Electric energy is 'goods'. It can … transmitted, transferred, delivered, stored, possessed etc., in the same way as any other movable property, Commissioner of Sales Tax v. Madhya Pradesh Electricity Board, AIR 1970 SC 732: (1969) 1 SCC 200: (1969) 2 SCR 939. The

Goodwill

magnet as the 'attracting force', In terms 'differential return of profit'. Philosophically it has been held to be intangible. Though immaterial, it is materially valued. Physically and psychologically, it is a 'habit' an sociologically it is a … competition is, contribute also to the goodwill. S.C. Cambatta and Co. Pvt. Ltd. v. Commissioner of Excess Profits Tax, AIR 1961 SC 1010 (1012): (1961) 2 SCR 805. Goodwill denotes the benefit arising from connection and reputation.

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property

in this entry ;specif in the civil law of Louisiana : tracts of land with their component parts intangible property : property (as a stock certificate or professional license) that derives value not from its intrinsic physical … but not including crops or other resources still attached to land : property other than real property [a tax on the personal property of the corporation] 2 : property belonging to a particular person qualified terminable interest

goodwill

goodwill 1 : an intangible asset that is made up of the favor or prestige which a business has acquired beyond the mere … purchase price b : the excess of the purchase price of a business above the value assigned for tax purposes to its other net assets NOTE: The Internal Revenue Code requires the purchaser of a business to

Property

assignable, State of Bihar v. Kameshwar Singh, AIR 1952 SC 252. Comprises every form of tangible property, even intangible, including debts and chooses in action such as unpaid accumulation of wages, pension, cash grants, and constitutionally protected … signifies every possible interest which a person can acquire, hold and enjoy, J.K. Trust v. Commissioner of Income Tax, AIR 1957 SC 846 (849): (1958) SCR 65. [Income Tax Act, 1922, s. 4(3)(i)] (vi) As a legal

Salary or wages

property of the value of one hundred rupees and upwards, or in the case of reversion or other intangible thing can be made only by a registered instrument. In the case of tangible immovable property of a … payment or other valuable considera-tion but does not include a mortgage, hypotheca-tion, charge or pledge. [Maharashtra Value Added Tax Act, 2002, s. 2(24)] Means a sale of goods made within the State for cash, deferred payment or

Know-how

knowledge, techniques, and skill required to achieve some practical end, esp. in industry or technology. Know-how is considered intangible property in which rights may be bought and sold. Black's Law Dictionary, 7th Edn., p. 878. Is a … regard to the importance of such matters in tropical countries, Evans Medical Supplies Ltd. v. Moriatry (Inspector of Taxes), (1957) 1 All ER 336.

asset

an estate that is to be distributed under a power of appointment capital asset : a tangible or intangible long-term asset esp. that is not regularly bought or sold as part of the owner's business ;specif : … : an asset that has physical form and is capable of being appraised at an actual or approximate value wast·ing asset : property (as a copyright or oil well) that will eventually expire or be used up

corporation

[Late Latin corporatio, from Latin corporare to form into a body, from corpor- corpus body] : an invisible, intangible, artificial creation of the law existing as a voluntary chartered association of individuals that has most of the … organized by one or more licensed individuals (as a doctor or lawyer) to provide professional services and obtain tax advantages public corporation 1 : a government-owned corporation (as a utility or railroad) engaged in a profit-making enterprise

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