Receipt - Law Dictionary Search Results
Home Dictionary Name: receipt Page: 2receipt
receipt 1 : the act, process, or fact of taking possession 2 : something (as income) received usually used in pl. 3 : a writing acknowledging the receiving of goods or money ...
receipt notice
receipt notice A Department of Homeland Security (DHS) form, Notice of Action I-797, which says that the DHS has received a petition. Source: Department of State. March 2007. ...
American Depository Receipt
American Depository Receipt, means a security issued by a bank or a depository in United States of America (USA) against underlying rupees shares of a company incorporated in India. [Foreign Exchange Management (Transfer or Issue of Any Foreign Security) Regulations, 2000, R. 2 (c)]...
Global Depository Receipt
Global Depository Receipt, (GDR) means a security issued by a bank or a depository outside India against underlying rupee shares of a company incorporated in India. [Foreign Exchange Manage-ment (Transfer or Issue of Any Foreign Security) Regulations, 2000, Reg. 2 (i)]...
Auditor of the Receipts
Auditor of the Receipts, an officer of the Exchequer, 4 Inst. 107; 46 Geo. 3, c. 1 (repealed by 4 & 5 Wm. 4, c. 15, s. 36)....
gross receipts
gross receipts : the total amount of value in money or other consideration received by a taxpayer in a given period for goods sold or services performed ...
Income
Income, s. 4 of the Income-tax Act, defines the 'total income' to include all income, profits and gains from whatever source deprived. The definition of 'income' in Shaw Wallace & Co. case, 1932 (59) IA 206, as a periodical monetary return coming in with some sort of regularity, or expected regularity, from definite sources must be read with reference to the peculiar facts of that case. Money received 'under consequential loss policies, were income within the meaning of s. 2(6c) of the Income Tax Act, Raghuvanshi Mills Ltd. v. Commissioner of Income Tax, AIR 1953 SC 4: (1953) SCR 177.Income connotes a periodical monetary return 'coming in' with some sort of regularity, or expected regularity from definite sources, E.D. Sassoon and Co. Ltd. v. Commissioner of Income Tax, AIR 1954 SC 470: (1955) 1 SCR 313.The expression 'income' in entry 54 of List I of the Seventh Schedule to the Government of India Act, 1935, and the corresponding entry 82 of List 1 of the Seventh Schedule to the Const...
Bill of Lading
Bill of Lading, a memorandum signed by masters of ships, in their capacity of carriers, acknowledging the receipt of merchants' goods, of which there are usually three parts-one kept by the consignor, one sent to the consignee, and one preserved by the master. It is the evidence of the title to the goods shipped; and by its endorsement and delivery, the transfer of the property in the goods specified therein is generally effected. By the Bills of Lading Act, 1855, the rights of suit under a bill of lading vest in the consignee or endorsee (as if the contract contained in the bill of lading had been made with himself) without prejudice to any right of stoppage in transitu or to freight. See (English) Carriage of Goods by Sea Act, 1924 (14 & 15 Geo. 5, c. 22), and Carver on Carriage by Sea.A bill of lading is 'a writing, signed on behalf of the owner of the ship in which goods are embarked, acknowledging the receipt of the goods, and undertaking to deliver them at the end of the voyage s...
Mortgage
Mortgage [fr. mort, Fr., dead, and gage, pledge], a deed pledge; a thing put into the hands of a creditor.A mortgage is the creation of an interest in property, defeasible (i.e., annullable) upon performing the condition of paying a given sum of money, with interest thereon, at a certain time. This conditional assurance is resorted to when a debt has been incurred, or a loan of money or credit effected, in order to secure either the repayment of the one or the liquidation of the other. the debtor, or borrower, is then the mortgagor, who has charged or transferred his property in favour of or to the creditor or lender, who thus becomes the mortgagee. If the mortgagor pay the debtor loan and interest within the time mentioned in a clause technically called the proviso for redemption, he will be entitled to have his property again free from the mortgagee's claim; but should he not comply with such proviso, the legal estate becomes perfected in the mortgagee, i.e., indefeasible, and so los...
Paid
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 ...
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