Ltd - Law Dictionary Search Results
Home Dictionary Name: ltd Page: 3Paid
Paid, means payable and is equivalent to offered or tendered, Mohammed Basbir v. Azizul Kadar, AIR 1967 All 1: (1966) AWR (HC) 442.Paid, takes in every receipt by the employee from the employer whether it was due to him or not, Commissioner of Income Tax, Kerala and Coimbatore v. L.W. Russell, AIR 1965 SC 49. [Income Tax Act, 1922, s. 7(1)]Paid, the expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. In general, dividend may be said to be paid within the meaning of s. 16(2) when the company discharges its liability and makes the amount of dividend unconditionally available to the member entitled thereto, J. Dalmia v. Commissioner of Income Tax, AIR 1964 SC 1866: (1964) 7 SCR 579. [Income Tax Act, 1922, s. 16(2)]The expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. The only difference between the expression 'paid' and the expression 'distribution' is that the latter necessarily involves the idea ...
Wages
Wages, if the remuneration is to be paid daily or weekly, it can be called wages. But when it is monthly remuneration payable on the last day of the month or after that date, and when the remuneration considering the general standards of payments is fairly high, then it has to be understood as salary, K.V.V. Sharma (in re), (1952) 2 Mad LJ 917.Includes any bonus or other additional remunera-tion etc., and any sum 'payable to such person by reason of the termination of his employment, A.R. Sarin v. B.C. Patil, AIR 1951 Bom 423.Means remuneration payable to an employee under an award or settlement, Purshottam v. Potdar, AIR 1966 SC 856.Means remuneration which an employer is liable to pay, if the term of the contract of employment are fulfilled. In other words, they are payments made by an employer for services rendered, G.M. Joshi v. First Civil Judge, AIR 1958 Bom 262.Wages, ought to include gratuity as well, Tirjugi Sitaram v. Badlu Prasad Bheru Prasad, AIR 1962 MP 361.The compensatio...
Victimisation
Victimisation, is a term of comprehensive import. Thus, if a person is made to suffer by treatment, it would amount to victimisation, Lakmat Newspapers Pvt. Ltd. v. Shankarprasad, (1999) 6 SCC 275.The word 'victimisation' in the context of industrial disputes is capable of two different interpretations: It connotes a person who became the victim of the employer's wrath by reason of his trade union activities; it also connotes a victim of unfair and arbitrary action. When a word has more than one interpretation, the interpretation which is in favour of the labour should be accepted as they are the poorer section of the people compared to the management. Therefore, the word 'victimisation' must be given its normal meaning of being the victim of unfair and arbitrary action, Workmen ofM/s. Willamson Magor & Co. Ltd. v. Williamson Magor & Co. Ltd., AIR 1982 SC 78 (81): (1982) 1 SCC 117. [Industrial Disputes Act (14 of 1947), Sch. 2, item 6]If a person is made to suffer by some exceptional t...
Turnover
Turnover, in laws dealing with Sales Tax, 'turnover' includes tax in calculating the total turnover, there is nothing wrong in treating the tax as part of the turnover, because, 'turnover' means the amount of money which is turned over in the business, George Oakes (P) Ltd. v. State of Madras, AIR 1962 SC 1352.Turnover is defined to mean: 'the aggregate amount for which goods are bought or sold or supplied or distributed by a dealer either directly or through another on his own account or on account of others whether for cash or for deferred payment or for other valuable consideration, Joint Commercial Tax Officer v. Young Men's Association (Regd.), AIR 1970 SC 1212 (1215): (1970) 1 SCC 462: (1970) 3 SCR 680.Turnover means an aggregate amount for which goods are either bought by or sold by a dealer, whether for a cash or for deferred payment or other valuable consideration, State of Andhra Pradesh v. H. Abdul Bakhi and Brothers, AIR 1965 SC 531 (532): (1964) 7 SCR 664. [Hyderabad Gener...
Shop
Shop, a place where thins are kept for sale, usually in small quantities, to the actual consumers. By (English) Shops Act, 1912, s. 19, 'shop' includes any premises where any 'retail trade or business' is carried on; 'retail trade or business' includes the business of a barber or hairdresser, but not the sale of programmes, etc., at places of amusement.A business establishment or place of employment; a factory, office, or other place of business, Black's Law Dictionary, 7th Edn., p. 1384.The (English) Shops Act, 1934, deals with the employment of persons under eighteen years, repealing s. 2 of the (English) Shops Act, 1912; but the other provisions are unaffected. The 1934 Act, s. 1, provides that no young person (under eighteen) shall be employed for more than the normal maximum working hours, that is, forty-eight hours in any week; it makes restrictions on right employment, has special provisions as to the catering trade, the sale of accessories for Aircraft, motor vehicles and cycle...
Raw material
Raw material, as commonly understood, is used in the process of manufacture. Printing machinery will certainly not come under the category of 'raw material', Re KI Kosalram, AIR 1968 Mad 113.Raw material, defined one of the valid tests could be that the ingredient should be so essential for the chemical process culminating in the emergence of the desired end product, that having regard to its importance in and indispensability for the process, it could be said that its very consumption on burning up is its quality and value as raw materials, Collector of Central Excise, New Delhi v. Ballarpur Industries Ltd., AIR 1990 SC 196.Raw material, is something from which another new or distinct commodity can be produced. When it is used in a taxing statute, it may have related meaning depending on the context in which it has been used, Tata Engineering & Locomotive Company Ltd. v. State of Bihar, (1996) 6 SCC 479.The expression 'raw-material' is not a defined term. The meaning to be given to it...
Public policy
Public policy, connotes some matter which concerns public good and the public interest. Expression does not admit of precise definition. Concept of 'public policy' is considered to be vague, susceptible to narrow or wider meaning depending upon the content in which it is used, Oil and Natural Gas Corporation Ltd. v. Saw Pipes Ltd., AIR 2003 SC 2629.Public policy, connotes some matter which concerns the public good and the public interest, Central Inland Water Transport Corporation Ltd. v. Broja Nath Ganguly, AIR 1986 SC 1571; Shri Parsar v. Municipal Board, (1997) 1 WLC 443.Public policy, demands that where fraud might have been contemplated but was not perpetrated, the defendants should not be allowed to perpetrate a new fraud. If the illegality of the transaction is trivial or venial and the plaintiff is not required to rest his case upon that illegality, then public policy demands that the defendant should not be allowed to take advantage of the position, Kedar Nath Motani v. Prahla...
Payable
Payable, 'payable' generally means that which should be paid, New Delhi Municipal Committee v. Kalu Ram, AIR 1976 SC 1637 (1639): (1976) 3 SCC 407: (1976) Supp SCR 87.The expression 'the full amount payable by the foreign buyer in respect of the goods' occurring in cl. (b) would mean merely the total amount which is due from the foreign buyer in respect of the goods actually exported; and what would be due from a foreign buyer has to be merely the price which he has been agreed to pay and not any fanciful, unreal or inflated price which the exporter may choose to falsely incorporate in the invoice with any ulterior motives. The foreign buyer cannot, by any stretch of imagination, be held to be liable to pay any amount over and above the price which he has promised to pay for the goods received by him and any difference between that price and the price given in the invoice can therefore not have the attribute of having become 'payable' by him, Director, Enforcement Directorate, Ministry...
Permission
Permission, 'permission' is a word of wide import and may even survive the death of the person who permits. Manohar Nathusao Samarth v Marotrao AIR 1979 SC 1084 (1088): (1979) 4 SCC 93: (1979) 3 SCR 1078.Permission means factual permission and not given the right to a person as an occupant under s. 5(1)(b) of the Jagirs Abolition Act. Thakoreshri Naharasinghji Dolatsinghji v. State of Gujarat, AIR 1980 SC 59: (1979) 4 SCC 291: (1980) 1 SCR 290. [Bombay Land Revenue Code, s. 40]The word 'permission' is comprehensive enough to include subsequent permission, L.I.C. of India v. Escorts Ltd., AIR 1986 SC 1370: (1986) 1 SCC 264: (1985) Supp 3 SCR 909.The word 'permission is a word of wide import. 'Permission' in s. 21 of the Foreign Exchange Regulation Act, 1947 means only leave to do some act which but for the leave would be illegal, M/s. Dhanrajamal Gobindram v. Shamji Kalidas and Co., AIR 1961 SC 1285 (1290). (FERA, 1947, s. 21)Permission, includes, subsequent permission, L.L.C. v. Escort...
Land
Land, in its restrained sense, means soil, but in its legal acceptation it is a generic term, comprehend-ing every species of ground, soil or earth, whatso-ever, as meadows, pastures, woods, moors, waters, marshes, furze and heath; it includes also houses, mills, castles, and other buildings; for with the conveyance of the land the structures upon it pass also. And besides an indefinite extent upwards, it extends downwards to the globe's centre, hence the maxim, Cujus est solum ejus est usque ad c'lum et ad inferos; or, more curtly expressed, Cujus est solum ejus est altum. See Co. Litt. 4 a.In an (English) Act of Parliament passed after 1850 'land' includes messuages, tenements and hereditaments, houses, and buildings of any tenure, Interpretation Act, 1889, s. 3. By the Law of Property Act,1925, s. 205(1)(ix.), 'land' for the purposes of the Act includes land of any tenure, and mines and minerals, whether or not held apart from the surface, buildings or parts of buildings (whether th...
- << Prev.
- Next >>