Section 301 - Law Dictionary Search Results
Home Dictionary Name: section 301 Page: 3securities and exchange commission (sec)
securities and exchange commission (sec) The five-member board appointed by the president that regulates and oversees stock trading and enforces federal securities statutes. Source: FindLaw ...
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...
Compensatory tax
Compensatory tax, a working test for deciding whether a tax is compensatory or not is to enquire whether the trades people are having the use of certain facilities for the better conduct of their business and paying not patently much more than what is required for providing the facilities. It would be impossible to judge the compensatory nature or a tax by a meticulous test, and in the nature of things that cannot be done, Automobile Transport (Rajasthan) Ltd. v. State of Rajasthan, AIR 1962 SC 1406 (1425). (Constitution of India, Art. 301)Means taxes which would otherwise interfere with the unfettered freedom under Art. 301 will be protected from the vice of unconstitutionality if they are compensatory, Jindal Stainless Ltd. (2) v. State of Haryana, (2006) 7 SCC 241.Compensatory tax, is a compulsory contribution levied broadly in proportion to the special benefits derived to defray the costs of regulation or to meet the outlay incurred for some special advantage to trade, commerce and...
Free trade throughout the territory of India
Free trade throughout the territory of India, Article 301 Constitution of India mandates free trade, commerce and intercourse throughout the territory of India. Interstate trade has, therefore, to be free from trade barriers. The mobility of goods throughout the territory of India has to be free. Free trade throughout the territory of India would be one with no tariffs and no restrictions or disadvantages of any kind of importing or exporting from the different States. Free trade means complete freedom of interstate trade without any restrictions on the movement of goods between the States, State of Bihar v. Harihar Prasad, AIR 1989 SC 1119 (1125): (1989) 2 SCC 192: (1989) 1 SCR 796. [Constitution of India Art. 301]...
Subject to other provisions of the Constitution
Subject to other provisions of the Constitution, means that if there is an irreconcilable conflict between the pre-existing law and a provision or provisions of the Constitution of India, the latter shall prevail to the extent of that inconsistency, South India Corporation Pvt. Ltd. v. Secretary, Board of Revenue, Trivandrum, AIR 1964 SC 207. (See Constitution of India, Art. 372)Subject to other provisions of the Constitution, restrictions or impediments which directly and immediately impede or hamper the free flow of trade, commerce and intercourse fall within the prohibition imposed by Article 301 and subject to the other provisions of the Constitution they may be regarded as void, State of Madras v. N.K. Natarajan Mudaliar, AIR 1969 SC 147 (154). [Constitution of India, Art. 301]...
Tithe Rent-Charge
Tithe Rent-Charge. A charge on land, substituted by commutation for that charge on the produce of the land for the benefit of the Church, which was called tithe from being the tenth part of the increase yearly arising and renewing from the profits of lands, the stock upon lands, and the personal industry of the inhabitants; the first species being usually called pr'dial, the second mixed, the third personal.This commutation was effected by a procedure set on foot by the (English) Tithe Act, 1836 (6 & 7 Wm. 4, c. 71), amended by subsequent Acts. See Chitty's Stat., tit. 'Tithe Rent-Charge.' The amount to be paid was annually adjusted, according to the price of corn.The commutation was effected in one of two ways-either by a voluntary parochial agreement, con-firmed by the commissioners, or by the compulsory award of the commissioners. The value, either voluntarily agreed upon or awarded by the commissioners, was considered as the amount of the total rent-charge to be paid in respect of ...
Building bye-law
Building bye-law, means bye-laws made under section 481 of the Delhi Municipal Corporation Act, 1957 or the bye-laws made under section 188, sub-section (3) of section 189 and sub-section (1) of section 190 of Punjab Municipal Act, 1911, as in force in New Delhi or the regulations made under sub-section (1) of section 57 of the Delhi Development Act, 1957, relating to buildings, Delhi Laws (Special Provisions) Act, 2006, sec. 2(a)....
good
good bet·ter best 1 : commercially sound or reliable [a risk] 2 a : valid or effectual under the law b : free of defects 3 a : characterized by honesty and fairness b : conforming to a standard of virtue [shall hold their offices during behavior "U.S. Constitution art. III"] ;also : characterized by or relating to good behavior n 1 : advancement of prosperity and well-being [for the of the community] 2 : an item of tangible movable personal property having value but usually excluding money, securities, and negotiable instruments usually used in pl. : as a pl : all things under section 2-105 of the Uniform Commercial Code that are movable at the time of identification to the contract for sale other than the money that is to be paid, investment securities, and choses in action b pl : all things under section 9-104 of the Uniform Commercial Code that are movable at the time that a security interest in them attaches or that are fixtures but excluding money, documents,...
power
power 1 : capability of acting or of producing an effect [parties of unequal bargaining ] 2 a : authority or capacity to act that is delegated by law or constitution often used in pl. commerce power often cap C&P : the power delegated to Congress under Article I, Section 8 of the U.S. Constitution to regulate commerce esp. among the states see also commerce clause concurrent power : a power that is held simultaneously by more than one entity ;specif : a power delegated to the federal government by the U.S. Constitution that is also held by the states enu·mer·at·ed powers [i-nü-mə-rā-təd-, -nyü-] : the powers specifically named and delegated to the federal government or prohibited to be exercised by the states under the U.S. Constitution compare reserved powers in this entry executive power : the power delegated to the executive of a government ;specif : any or all of the powers delegated to the president under Article II of the U.S...
London, Port of
London, Port of. The administration is provided for by the Port of London (Consolidation) Act, 1920 (10 & 11 Geo. 5, c. clxxiii.); s. 6 enacts:-(1) There shall be a chairman and vice-chairman and other members of the Port Authority elected and appointed in manner provided by this Act for the purpose of administering, preserving and improving the Port of London and otherwise for the purposes of this Act, and the several persons who now constitute and shall, from time to time constitute the Port Authority, shall notwithstanding the repeal of enactments effected by this Act, continue and be a body corporate by the name of 'the Port of London Authority, and by that name shall continue to have perpetual succession and a common seal having power to acquire and hold land for the purposes of this Act without licence in mortmain.(2) The several persons who were respectively the chairman, vice-chairman and other members of the Port Authority immediately before the passing of this Act, and shall ...
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