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Profit

State of Maharashtra v. Chandrakant Solanki, 1995 Cr LJ 832. Primarily means the arithmetical excess of the price received over the total of all costs incurried by the seller. It is again made in business, profession of

Performing specific services

its members some tangible benefit which otherwise would not be available to them as such, except for payment received by the association in respect of those services, Commissioner of Income Tax v. Calcutta Stock Exchange Association Ltd., AIR

Profits in lieu of salary

the expression 'profits in lieu of salary', the legislature excluded from the scope of that expression any payments received by the assessee from a provident fund, his own contributions to the fund or any interest on such contributions,

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Promutuum

the thing. (3) That in both there must be returned the same amount or quantity of the thing received, Civ. Law.

Recipitur in modum recipientis

Recipitur in modum recipientis (5 Bing. N.C. 461), a thing is received in the way the recipient intends.

Quod contra rationem juris receptum, non est producendum ad consequentias

Quod contra rationem juris receptum, non est producendum ad consequentias (D. 50, 17, 141), that which is received against the reason of the law is not to be advanced to a precedent.

Receiver of the fines

Receiver of the fines, an officer who received the money of all such as compounded with the Crown on original writs sued out of Chancery.

Property

v. Union of India, (1970) 1 SCC 248: AIR 1970 SC 564. Property, the communicated order of assessment, received by an assessee, is property since it is of great importance, to an assessee, as containing a computation, of

Minimum subscription

shares offered to the public for subscription. This must be stated in the prospectus and application sums therefor received before allotment of shares. The amount includes the minimum required, in the opinion of directors, for property to

Payable

to pay any amount over and above the price which he has promised to pay for the goods received by him and any difference between that price and the price given in the invoice can therefore not have

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