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Turnover of sales

dealer in respect of sales of goods made during such period after deducting therefrom the amounts, if any, refunded by the dealer in respect of any such goods returned or rejected by the purchaser within three months

The sum payable

The sum payable, the expression 'the sum payable' would obviously mean the difference between the amount refunded and the reduced amount which was liable to be refunded. The second reason is that even if it

Surcharge

right; exceeding one's powers or privileges; a declaration by an auditor that a person is personally liable to refund a particular part of public money illegally expended by him [see, e.g. the Public Health Act, 1875, s.

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Found to be due

is outstanding, i.e., that there is subsisting obligation on the Income-tax Officer to pay. If a claim to refund is barred by a final order, it cannot be said that there is a subsisting obligation to make

Contribution

of the debt to a transfer of the securities held by the creditor. Legatees are sometimes compelled to refund and contribute for the payment of debts. In like manner, contribution lies between partners for any excess, which

Assessee

taken for the determination of wealth-tax payable by him or by any other person or the amount of refund due to him or such other person. (ii) very person who is deemed to be an assessee under

Repay

To pay back to refund as to repay money borrowed or advanced

Reimburse

replace in a treasury or purse as an equivalent for what has been taken lost or expended to refund to pay back to restore as to reimburse the expenses of a war

nonreturnable

That may not be returned for a refund of purchased goods or containers for purchased items as nonreturnable bottles Opposite of returnable

reserve

an insurance company but not yet applied to policy coverage and from which a policyholder is paid a refund in the event of cancellation prior to the period for which premiums have been paid 4 : reserve

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