Levy - Law Dictionary Search Results
Home Dictionary Name: levy Page: 4Capital and revenue receipt
Capital and revenue receipt, distinction between revenue and capital in the law of income tax is fundamental. Tax is ordinarily not levied on capital profits; it is levied on income. It is well-settled that sale of stock-in-trade or circulating capital or rendering service in the course of trading results in a trading receipt; sale of assets which the assessee uses as fixed capital to enable him to carry on his business results in capital receipt, C.I.T. v. Maheshwari Devi Jute Mills Ltd., AIR 1965 SC 1974: (1965) 3 SCR 765: AIR 1965 SC 1974 (1976). [Income-tax Act, 1922, s. 4(1)]...
Fare
Fare, a voyage or passage by water; also the money paid for a passage either by land or by water.Railway fares must be published at stations, by the (English) Regulation of Railways Act, 1868 (31 & 32 Vict. c. 119), s. 16. Travelling without prepayment and with intent to avoid payment is punishable by fine up to 40s., and on second or subsequent offence either by fine up to 20l. or in the discretion of the Court by imprisonment up to one month on summary conviction, by the Regulation of Railways Act, 1889, superseding but not repealing s. 103 of the (English) Railways Clauses Consolidation Act, 1845 (8 & 9 Vict. c. 20).Tramway fares must be published inside and outside each of the carriages used, and avoiding payment of them is punishable by fine up to 40s. with liability to arrest.As to fares on public service vehicles, see (English) Traffic Acts, 1930, s. 72, and 1934, s. 40.Means the charge levied for the carriage of passengers. [Railways Act, 1989 (24 of 1989), s. 2 (14)]Means the ...
Hearth-money
Hearth-money, a tax levied by 14 Car. 2, c. 10. It was productive of great discontent, and was abolished by 1 W. & M. st. 1, c. 10.A tax of two shilling levied on every fireplace as England, Black's Law Dictionary, 7th Edn., p. 726....
Lighthouse
Lighthouse, a building, from which lights are shown to guide ships at sea. The power of erecting and maintaining them is a branch of the royal prerogative. By the (English) Harbours, Docks and Piers Clause, etc. Act, 1847 (10 & 11 Vict. c. 27), lighthouses are not to be erected without the sanction of Trinity House. The management of lighthouses is now regulated by the (English) Merchant Shipping Act, 1894 (57 & 58 Vict. c. 60), Part, XI., ss. 634-675, as amended by the (English) Merchant Shipping (Mercantile Marine Fund) Act, 1898 (61 & 62 Vict. c. 44), which creates a General Lighthouse Fund in substitution for the Mercantile Marine Fund, and, subject to the rights of persons having authority over local lighthouses, is vested in the following bodies:-(1) As to lighthouses in England, Wales, Jersey, Guernsey, Sark, and Alderney, and the adjacent seas and islands, and in Gibraltar, in the Trinity House.(2) In Scotland and the adjacent seas and islands, and in the Isle of Man, in the Co...
Poor laws
Poor laws. By the (English) Poor Relief Act, 1601, (43 Eliz. c. 2), frequently called 'The Act of Elizabeth,' overseers of the poor were annually appointed in every parish; the churchwardens of every parish being also ex-officio overseers, except in rural parishes, in which the churchwardens ceased to be overseers by virtue of the Local Government Act, 1894.Overseers of the Poor and Boards of Guardians were abolished (overseers from 1st April, 1927, boards of guardians from 1st April, 1930, except in the Scilly Islands) by the Rating and Valuation Act, 1925, and their powers, duties and property were transferred to local authorities.By the Poor Law Amendment Act, 1834, the administration of the parochial funds and the management of the poor throughout the country were placed for five years under the control of a central board called 'The Poor Law Commissioners'; succeeded in 1847 by a temporary 'Poor Law Board' made perpetual, after many continuances, in 1867; and in 1871, by 'The (Eng...
Restitution, Writ of
Restitution, Writ of. If the judgment below was reserved in a court of error, the plaintiff in error might have had a writ of restitution in order that he might be restored to all he had lost by the judgment. If execution on the former judgment had been actually executed, and the money paid over, the writ of restitution issued without any previous scire facias quare restitutionem non, suggesting the matter of fact, viz., the sum levied, etc., must have previously issued. Error is now abolished (Jud. Act, 1875, Ord. LVIII., r. 1). And, generally, if money, etc., be levied under a writ of execution, and the judgment be afterwards reversed or set aside, the party against whom the execution was sued out may have his writ of restitution; but where the judgment is set aside for irregularity, etc., restitution (when necessary) forms part of the rule; and if the goods or money be not restored, the Court will grant an attachment. A writ of restitution may also be awarded when a judgment in ejec...
Settlement estate duty
Settlement estate duty. The further estate duty (see that title) levied under ss. 5 and 17 of the (English) Finance Act, 1894 (57& 58 Vict. c. 30) (Chitty's Statutes, tit. 'Death Duties'), on settled property passing on the death of one person to another not competent to dispose of it. The rate was by the Finance (1909-10) Act, 1910, s. 54, two percent., and the further estate duty, or 'settlement estate duty,' was levied on the principal value of the settled property, with two important qualifications, being these:(1) If the only life interest in the property after the death of the deceased were that of the wife or husband of the deceased, settlement estate duty was not leviable at all. (2) During the continuance of the settlement, the settlement estate duty was not payable more than once.The duty was abolished by the Finance Act, 1914, s. 14, in the case of persons dying after 11th May, 1914....
Tax and taxation
Tax and taxation, the word 'tax' in its widest sense includes all money raised by taxation. It therefore includes taxes levied by the Central and the State legislatures, and also those known as 'rates', or other charges, levied by local authorities under statutory powers. 'Taxation' has been defined in clause (28) of Article 366 of the Constitution to include 'the imposition of any tax or impost, whether general or local or special', and it has been directed that 'tax' shall be 'construed accordingly', D.G. Gouse and Co. v. State of Kerala, AIR 1980 SC 271 (275): (1980) 2 SCC 410: (1980) 1 SCR 804....
Excise duty
Excise duty, it is a tax on articles produced or manu-factured in the taxing country. Generally speaking, the tax is on the manufacturer or the producer, yet laws are to be found which impose a duty of excise at stages subsequent to the manufacture or produc-tion, A.B. Abdul Kadir v. State of Kerala, (1976) 3 SCC 219: AIR 1976 SC 182: (1976) 2 SCR 690. (Constitu-tion of India, Sch. VII, List I Entry 84)According to s. 3(1) of the Customs Tariff Act, 1975 the expression 'the excise duty for the time being leviable on a like article if produced or manu-factured in India' means the excise duty for the time being in force which would be leviable on a like article if produced or manufactured in India or, if a like article is not so produced or manufactured which would be leviable on the class of description of article to which the imported article belongs, and where such duty is leviable at different rates, the highest duty, Khandelwal Metal and Engineering Works v. Union of India, (1985) 3...
Nulla bona
Nulla bona (in goods), a return made by a sheriff to a fi. fa., etc., when there is no property to levy upon....
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