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To be at his own disposal

at his own disposal, means when a testator bequeaths certain property for charitable purpose and directs that the profits thereof may be retained by the executor for such objects and such purpose as he may, in his

Derived from

required for its supply is a step removed from the business of the industrial undertaking. The derivation of profits on the deposit made with the Electricity Board cannot be said to flow directly from the industrial undertaking

partnership

and is provided with capital by limited partners who do not participate in management but who share in profits and whose individual liability is limited to the amount of their respective capital contributions compare general partnership in

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profit a prendre

profit a prendre or profit À prendre [prÄ -fət-Ä -prÄ n-dər] n pl: profits À prendre or: profits À prendre [Anglo-French, literally, profit to be taken] : a right, privilege, or interest

pyramid

: a pyramid scheme vi : to speculate (as on a security or commodity exchange) by using paper profits as a margin for additional transactions vt 1 : to use (as profits) in speculative pyramiding 2 :

use

conveyance of s in early English law] ;broadly : the fact or right of having the benefits and profits of property beneficial use : the use of a cestui que use analogous to a beneficial interest in

Accumulated loss

Accumulated loss, means so much of the loss of the amalgamating banking company under the head 'profits and gains of business or profession' (not being a loss sustained in a speculation business) which such amalgamating banking...

Apportion

proper portion of the dividends would mean an assignment in the same or similar ratio as the respective profits of the two segments bear to the total profits of the company, C.I.T. v. T.V. Sundaram Iyengar (P.)

Association of persons

imposes a tax on income, the association must be on the object of which is to produce income, profits or gains, CIT v. Indira Balkrishna, AIR 1960 SC 1172 (1174): (1960) 3 SCR 513. (Income-tax Act, 1922

Carried on by him

i.e. under s. 10 of the Income-tax Act,1922 tax is payable by an assessee 'in respect of the profits or gains of any business, profession or vocation carried on by him.' 'Business' is defined by s. 2,

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