Ordinary Gain - Law Dictionary Search Results
Larceny
was abolished by s. 2 of the (English) Larceny Act, 1861. The punishment for simple larceny is in ordinary cases penal servitude for the term of three years, or imprisonment for any term not exceeding two years, … generally, Archbold's or Roscoe's Crim. Evid. and Russell on Crimes. The word larceny in English law contemplates permanent gain or loss and is different from 'theft' under the Indian Penal Code, K.N. Mehra v. State of Rajasthan,
Property
Hotels of India v. Jodha Mal Kuthiala, AIR 1950 Punj 201. Every movable property is included in the ordinary connotation of the word 'property', Chunni Lal v. State, AIR 1968 Raj 70. In commercial law this may … object or corpus of the property. Mere object of property, though it may be a source of economic gain or be a means of production is not the totality of the property, although it is the basic
loss
by which the expenses of operating a business exceed the income derived from it see also carryback, carryover ordinary loss : a loss from the sale or exchange of any asset that is not a capital asset … emotional, or esp. economic harm or damage sustained: as a : decrease in value, capital, or amount compare gain b : an amount by which the cost of something (as goods or services) exceeds the selling price
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