Revenue Ruling - Law Dictionary Search Results
Home Dictionary Name: revenue rulingRevenue Ruling
Revenue Ruling : an official interpretation of a tax law by the Internal Revenue Service that is published to provide guidance esp. to taxpayers and IRS officials ...
ruling
ruling : an official or authoritative determination, decree, statement, or interpretation (as by a judge on a question of law) [followed a previous on the same question] see also revenue ruling compare decision, disposition, finding, holding, judgment, opinion, verdict ...
Revenue
Revenue, income, annual profit received from land or other funds; also money at the disposal of the Crown, i.e., the executive. The chief sources are (1) Crown property, surrendered to the nation; (2) taxation--income tax, death duties, customs and excise, stamp duties; (3) certain managed enter-prises, such as the Post Office, and Lands, Woods and Forests and miscellaneous holdings such as shares in the Suez Canal, and other profits or fiscal prerogatives of the Crown.See Halsb. Encycl. Laws of England, tit. 'Revenue'; Chitty's Statutes, tits. 'Customs,' 'Property Tax,' 'Death Duties,' 'Stamps,' and 'Revenue.'Revenue causes were peculiarly within the province of the court of Exchequer; the practice of which Court in matters of revenue was regulated by the Queen's Remembrancer Act, 1859 (22 & 23 Vict. c. 21), ss. 9 et seq., and the Crown Suits Act, 1865 (28 & 29 Vict. c. 104).The jurisdiction of the Court of Exchequer was transferred to the High Court of Justice ((English) Jud. Act, 18...
Decree
Decree [fr. decretum, Lat.], an edict, a law.The term was also used for the judgment of a Court of Equity. But by the (English) Judicature Acts, 1873 and 1875, the expression judgment, which was formerly used only in Courts of Common Law, is adopted in reference to the decisions of all Divisions of the Supreme Court, and [(English) Judicature Act, 1925, s. 225, replacing (English) Act of 1873, s. 100] includes decree. See JUDGMENT, and consult Seton on Decrees. In Scotland the judgment of a Court disposing of a case (accent on first syllable).Decree means a formal expression of an adjudication which the Court conclusively and finally determines the rights of the parties with regard to all or any of the matters in controversy in the suit, Deep Chand v. Land Acquisition Officer, (1994) 4 SCC 99: AIR 1994 SC 1901.A decree in invitum is not an instrument securing money or other property; such a decree is a record of the formal adjudication of the Court relating to a right claimed by a part...
Statutory Rules and Orders
Statutory Rules and Orders. Very numerous Acts of Parliament, especially those passed in recent years, empower the Sovereign in Council, some Govern-ment Department, or Courts of Justice, to make rules, having the same effect as the statute under which they are made, to regulate details left unprovided for by such statute. Thus, there are the Bankruptcy Rules regulating the practice under the Bankruptcy Acts; the Rules of the Supreme Court, regulating the practice of the High Court and the Court of Appeal; Orders of the Ministries of Health, Labour, etc., and Orders of the Ministry of Agriculture and Fisheries, under the (English) Diseases of Animals Act, 1894, and other Acts; and hundreds of other rules, orders, and regulations, in some cases requiring to be laid before Parliament, and in other cases not, and in some cases required to be published in the London, Edinburgh, or Dublin Gazette, and in others not.The (English) Rules Publication Act 1893 (56 & 57 Vict. c. 66), directs that...
Ruling Chief
Ruling Chief, the expression 'Ruling Chief' has not been defined in the Act and must therefore by understood as in common parlance. The meaning of the word 'ruler' as given in Shorter Oxford English Dictionary, 3rd Edn., Vol. 2, p. 1867 is: 'One who, or that which, exercise rule, especially of supreme or sovereign kind.' Normally the expression 'Ruling Chief' connotes 'a person who is endowed with the content of sovereignty and also has the attributes of a sovereign'. According to Black's Law Dictionary, 5th Edn., p. 1252 (See now 7th Edn. P. 1402) the legal conception of 'sovereignty' is stated thus: The supreme, absolute, and uncontrollable power by which any independent state is governed; supreme political authority; paramount control of the constitution and frame of government and its administration; the self-sufficient source of political power, from which all specific political powers are derived; the international independence of a state, combined with the right and power of reg...
private letter ruling
private letter ruling : a letter from the Internal Revenue Service to an individual taxpayer setting out the agency's interpretation of the tax rules relating to a specific situation or transaction proposed by the taxpayer ...
Revenue deficit
Revenue deficit, means difference between revenue expenditure and revenue receipts which indicates increase in liability of the State Government without corresponding increase in assets of the Government. [Gujarat Fiscal Responsibility Act, 2005, s. 2(g)]Means the amount of excess of revenue expenditure over revenue receipts in a financial year. [Rajasthan Agricultural Produce Market Act, 2005, s. 2(m)]Means the difference between revenue expediture and revenue receipts of the State Government [Madhya Pradesh Rajkoshiya Uttardayitva Avam Budget Prabandhanam Adhiniyam, 2005, s. 2(i)]Means the difference between revenue expenditure and revenue receipts which indicates increase in liabilities of the Central Government without corresponding increase in assets of that Govern-ment. [Fiscal Responsibility and Budget Manage-ment Act, 2003 (39 of 2003), s. 2(e)]...
Inland revenue
Inland revenue. That portion (by far the largest) of the public revenue (which is derived from the taxation of home commodities and duties on property and income, houses, stamps, probates, legacies, etc., as distinguished from the portion derived by customs duties (see CUSTOMS) from imported commodities-such as foreign wine and spirits, tea, etc. It is supervised by (English) Inland Revenue Commissioners (the number of whom, now four, is not limited by statute, and the quorum of whom is two), and a large number of enactments relating to its regulation are contained in the consolidating Inland Revenue Regulation Act, 1890 (53 & 54 Vict. c. 21). By s. 39 of that Act 'inland revenue' means 'the revenue of the United Kingdom collected or imposed as stamp duties, taxes, and duties of excise.' (see that title), 'and placed under the care and management of the Inland Revenue Commissioners.' By 8 Edw. 7, c. 16, the management of excise duties were transferred to the Commissioners of Customs an...
Hereditary revenues
Hereditary revenues. Crown Lands, escheats (see that title), and certain small branches, such as Post Office Profits, enumerated in 1 Anne, c. 1. The Civil List Act, 1910 (10 Edw. 7 & 1 Geo. 5), in substitution for the Civil List Act, 1901, directed (in effect) that the hereditary revenues which were directed by s. 2 of the Civil List Act, 1837, to be made part of the Consolidated Fund, with the addition of the Osborne Estate under the Osborne Estate Act, 1902, were during that reign and for six months afterwards to be 'paid into the Exchequer, and made part of the Consolidated Fund.'Sect. 2 of the Act of 1837 directed the produce of all the heritous rates, duties, payments, and revenues in England, Scotland, and Ireland respectively, and also the small branches of the hereditary revenues and the produce of the hereditary casual revenues arising from any droits of Admiralty or droits of the Crown, and from the surplus revenues of Gibraltar, or any other possession of her Majesty Queen ...
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