Previous Year - Law Dictionary Search Results
Home Dictionary Name: previous yearIn the course of such previous year
In the course of such previous year, 'in the course of such previous year' would, refer to the period commencing with the beginning of the previous year and termination with the end of the previous year. 'In the course of such previous year', would necessarily mean that free transferability of the shares by the holders to other members of the public should be present throughout the previous year, CIT v. East West Import and Export (P) Ltd., AIR 1989 SC 836 (838): (1989) 1 SCC 760. (Income-tax Act, 1922, s. 23A Expln.)...
Previous year
Previous year, the expression 'previous years' in s. 2(6A)(c) of the Income Tax Act, 1922 was meant the financial years preceding the year in which liquidation took place. Dhandhania Kedia and Co. v Commissioner of Income Tax, AIR 1959 SC 219 (221): (1959) Supp 1 SCR 204. [Incom Tax Act, 1922, s. 2(11)]...
Year previous
Year previous, the expression 'previous year' in s. 2(6A)(c) of the Income Tax Act, 1922 was meant the financial year preceding the year in which liquidation took place, Dhandhania Kedia and Co. v. CIT, AIR 1959 SC 219 (222): (1959) Supp 1 SCR 204....
Year
Year, means a period commencing on 1st April and ending on 31st March next following. [Rajasthan Public Libraries Act, 2006, s. 2(t)]Means a year commencing on 1st day of April. [Equity Linked Savings Scheme, 2005, s. 2(g)][fr. gear, Sax.], 365 days, twelve calendar months, fifty-two weeks and one day, or in Leap Year (q.v.) 366 days, i.e., fifty-two weeks and two days.The first day of the year was legally altered for England from the 25th of March to 1st of January in and after 1752 by the Calendar (New Style) Act, 1750 (24 Geo. 2, c. 23) (Chitty's Statutes, tit. ' Time '), but as appears from the preamble to that statute, the 1st of January had been the first day of the year in Scotland, in other nations, and by ' common usage throughout the whole kingdom.' See CALENDAR generally, when a statute speaks of a year it must be considered as twelve calendar and not lunar months, Bishop of Peterborough v. Catesby, 1608 Cro Jac 166.For the termination of the statutory year for certain finan...
Previous conviction
Previous conviction. The 11th s. of the (English) Criminal Law Act, 1827 (7 & 8 Geo. 4, c. 28), reciting that 'it is expedient to provide for the more exemplary punishment of offenders who commit felony after a previous conviction for felony,' empowered a Court to inflict transportation for life and whipping for such subsequent conviction. Penal servitude has since been substituted for transportation, and the whipping is abolished. The (English) Larceny Act, 1916 (6 & 7 Geo. 5, c. 50), by s. 37, authorizes the infliction of penal servitude up to ten years on those committing simple larceny after having been previously convicted of felony and up to seven years if previously convicted of an indictable misdemeanour punishable under the Act or twice summarily convicted of certain other offences; males under sixteen are liable to whipping in addition.Frequently statutes [see, e.g., (English) Licensing Act, 1872, s. 12, as to drunkenness; (English) Road Traffic Act, 1930, s. 13; (English) Tr...
Co-operative year
Co-operative year, A co-operative year means the year commencing the first day of July and ending on June 30, of next following, Ziley Singh v. Registrar, Cane Co-operative Societies, (1972) 3 SCR 149: (1972) 1 SCC 719 (723): AIR 1972 SC 758. (U.P. Co-operative Societies Act, 1965)In relation to any multi-State co-operative society or class of such societies, means the year ending on the 31st day of March of the year and where the accounts of such society or class of such societies are, with the previous sanction of the Central Registrar, balanced on any other day, the year ending on such day. [The Multi-State Co-operative Societies Act, 2002 (37 of 2002), s. 3 (i)]...
Accounting year
Accounting year, means-(i) in relation to a corporation, the year ending on the day on which the books and accounts of the corporation are to be closed and balanced; (ii) in relation to a company, the period in respect of which any profit and loss account of the company laid before it in annual general meeting is made up, whether that period is a year or not; (iii) in any other case-(a) the year commencing on the 1st day of April; or (b) if the accounts of an establishment maintained by the employer thereof are closed and balanced on any day other than the 31st day of March, then, at the option of the employer, the year ending on the day on which its accounts are so closed and balanced: Provided that an option once exercised by the employer under paragraph (b) of this sub-clause shall not again be exercised except with the previous permission in writing of the prescribed authority and upon such conditions as that authority may think fit. [Payment of Bonus Act, 1965 (21 of 1965), s. 2 (...
Comparative legislation, society of
Comparative legislation, society of. A body formed for the purpose of studying and circulating information respecting the laws and legislation of various countries. The Society issues journals to its subscribers two or three times a year, one of them each year containing an account of the legislation of the whole British Empire for a previous year....
Valuation date
Valuation date, in relation to any year for which an assessment is to be made under this Act, means the last day of the previous year as defined in s. 3 of the Income-tax Act if an assessment were to be made under that Act for that year. [Wealth-tax Act, 1957 (27 of 1957), s. 2 (q)]...
De jure
De jure [Lat.] (by right), opposed to de facto. The most striking instance of the recognition by our law of the distinction between things de jure and de facto is found in the statute-book, which entitles the first Act of Parliament passed in the reign of Charles the Second as of the twelfth year of his reign, the previous years having been spent by him in exile, and the affairs of the kingdom having been conducted by the Protector. See DE FACTO...
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