Rate Applicable - Law Dictionary Search Results
Home Dictionary Name: rate applicableRate applicable
Rate applicable, the rate applicable merely mean the rate applicable at the relevant point of time and not the rate applicable when s. 8(2) (a) was enacted, International Cotton (P) Ltd. v. AIR 1979 SC 1604 (1609): (1975) 3 SCC 585. [Central Sales Tax Act, 1956 s. 8(2)(a)]...
Rate applicable to the total income of the company
Rate applicable to the total income of the company, the expression 'rate applicable to the total income of the company' meant the rate actually applied. The clause referred to the specific or definite rate which was determined to be applicable to the taxable income of the company for that specific year and not to the rate prescribed by the Act for the relevant year generally in reference to incomes of companies, Rajputana Agencies Ltd. v. Commissioner of Income Tax, AIR 1959 SC 265: (1959) Supp 1 SCR 142....
Station to station rate
Station to station rate, means a special reduced rate applicable to a specific commodity booked between specified stations. [Railways Act, 1989 (24 of 1989), s. 2(38)]...
Rate
Rate, A contribution levied by some public body for a public purpose, as a poor rate, a highway rate, a sewers rate, upon, as a general rule, the occupiers of property within a parish or other area.Proportional or relative value; the proportion of which quantity or value is adjusted, Black's Law Dictionary, 7th Edn., p. 1268.The term 'rate' is also used to mean a charge by a water, gas, railway, or other public undertaking for services rendered e.g., (English) Railways Act, 1921, s. 20; Metropolitan Water Board Charges Act, 1921 (11 & 12 Geo. 5, c. xciv.).The poor rate was levied under the (English) Poor Relief Act, 1601 (43 Eliz. s. 2), on the occupiers in each parish of 'lands, houses, tithes, coal mines, or saleable underwoods,' and the (English) Rating Act, 1874, extended the liability to rates to: (1) land used for a plantation or a wood, or for the growth of saleable underwood, and not subject to any right of common; (2) rights of fowling, shooting, taking, or killing game, or ra...
Church-rates
Church-rates, tributes by which the expenses of the church are to be defrayed; made by the parishioners at large, that is, by the majority of those present at a vestry summoned for that purpose by the church-wardens, formerly recoverable in the Ecclesiastical Court or, if the arrears did not exceed 10l. and no questions were raised as to the legal liability, before two justices of the peace.Compulsory church-rates were abolished by the Compulsory Church Rate Abolition Act, 1868 (31 & 32 Vict. c. 109), except so far as partly applicable to any secular purpose.The Parochial Church Councils (Powers) Measure, 1921 (11 & 12 Geo. 5, No. 1), gave to Parochial Church Councils power to levy a voluntary church-rate....
Maximum marginal rate
Maximum marginal rate, means the rate of wealth-tax applicable in relation to the highest slab of wealth in the case of an individual as specified in part I of Schedule I. [Wealth-tax Act, 1957 (27 of 1957), s. 2 (lc)]...
Vegetables
Vegetables, as understood in common parlance are not products of manufacture unless, agriculture is an industry for certain purposes and vegetables are products of the Industry, Saraswati Sugar Mills v. Haryana State Board, AIR 1992 SC 228.The word 'vegetables' in taxing statutes is to be understood as in common parlance, Vegetables in item 6 does not include betel leaves, Ramavatar Budhaiprasad v. Asst. Sales Tax Officer, AIR 1961 SC 1325 (1327): (1962) 1 SCR 279. [C.F. and Bezar Sales Tax Act, (21 of 1947), Sch. II, Item 6]The word 'vegetables' should be understood as denoting the class of vegetables which are grown in kitchen garden or in a farm and are used for the tables. There can be no dispute that both chillies and lemons are grown in kitchen gardens or at any rate in farms and they are used for the tables, Mangulu Sahu Ramahari Sahu v. Sales Tax Officer, AIR 1974 SC 390: (1972) 4 SCC 423. [Orissa Sales Tax Act, 1947, s. 6]The word 'vegetables' is not defined in the Act and it ...
Commercial and domestic
Commercial and domestic, in Stroud's Judicial Dictionary (Fifth Edition) the term 'commercial' is defined as 'traffic, trade or merchandise in buying and selling of goods'. In the said dictionary the phrase 'domestic purpose' is stated to mean use for personal residential purposes. In essence the question is, what is the character of the purpose of user of the premises by the owner or landlord and not the character of the place of user. The New Delhi Municipal Council is entitled to charge for use of electricity in a guest house at the rate applicable to 'commercial' use, New Delhi Municipal Council v. Sohan Lal Sachdev, (2000) 2 SCC 494: AIR 2000 SC 1859 (1861). [Electricity Act, 1910, s. 23]...
Foreign exchange derivative contract
Foreign exchange derivative contract, means a financial transaction or an arrangement in what-ever form and by whatever name called, whose value in derived from price movement in one or more underlying assets, and includes:-(a) a transaction which involves at least one foreign currency other than currency of Nepal or Bhutan, or(b) a transaction which involves at least one interest rate applicable to a foreign currency not being a currency of Nepal or Bhutan, or(c) a forward contract, but does not include foreign exchange transaction for Cash or Tom or Spot deliveries. [Foreign Exchange Management (Foreign Exchange Derivative Contracts) Regulations, 2000, Reg. 2 (v)]...
Agricultural rates
Agricultural rates, The (English) Agricultural Rates Act, 1896, as amended by the (English) Agricultural Rates Act, 1923, provides that the occupier (including the owner if rated in place of the occupier) of agricultural land shall be liable to one quarter only of the rate in the pound payable in respect of buildings and other hereditaments. These exemptions were preserved by the (English) Rating and Valuation Act, 1925, s. 22, but agricultural land and buildings are now entirely derated, see the (English) Rating and Valuation (Apportionment) Act, 1928, and the Local Government Act, 1929, s. 67....
- << Prev.
- Next >>
Sign-up to get more results
Unlock complete result pages and premium legal research features.
Start Free Trial