Single Tax - Law Dictionary Search Results
Home Dictionary Name: single taxSalami
Salami, 'salami' is a single payment made for the acquisition of the right of the lessor by the lessee to enjoy the benefits granted to him by the lease. That general right may properly be regarded as a capital asset and the money paid to purchase it may properly be held to be a payment on capital account, Maharaja Chintamani Saran Nath Sah Deo v. CIT, AIR 1972 SC 80 (81): (1971) 2 SCC 521: (1972) 1 SCR 36.'Salami' is defined as; 'a free gift by way of compliment or in return of a favour'. Salami is a payment by the tenant as a present or as price for parting by the landlord with his rights under the lease of a holding. It is a lump sum payment as consideration for what the landlord transfers to the tenant, Member for the Board of Agricultural Income Tax v. Sindhurani Chaudhurani, AIR 1957 SC 729 (733): (1955) SCALE 772: 1957 ITR 169.Salami, are (i) its single non-recurring character; and (ii) payment prior to the creation of the tenancy. It is the consideration, paid by the tenant for...
Joint-tenancy
Joint-tenancy. This tenancy is created where the same interest in real or personal property is, by the act of the party, passed by the same matter of conveyance or claim in solido, and not as merchan-dise, or for purposes of speculation, to two or more persons in the same right, either simply, or by construction or operation of law jointly, with a jus accrescendi, that is, a gradual concentration of property from more to fewer, by the accession of the part of him or them that die to the survivors or survivor, till it passes to a single hand, and the joint-tenancy ceases.Anciently, joint-tenancy was favoured because it did not induce fractions of estates, and returning to early principles the (English) Land Legislation of 1925 has employed the tenure generally as the machinery by which legal estate may in such cases always be in some person, called the estate owner, who is competent to give a title to the whole estate without the concurrence of other parties. that legal estate has been ...
Bond
Bond [fr. binda, band, bunden, A. S., to bind], a written acknowledgement or binding of a debt under seal. See DEED. No technical form of words is necessary to constitute a bond; see Gerrard v. Clowes, (1892) 2 QB 11; Strickland v. Williams, (1899) 1 QB 382. The person giving the bond is called the obligor, and he to whom it is given the obligee. A bond is called single (simplex obligatio) when it is without a penalty, but there is generally a condition added, that, if the obligor does or forbears from some act, the obligation shall be void, or else shall remain in full force, and the bond is then called a double or conditional one; see Dav. Prec. Vol. V., pt. Ii., p. 268. When a bond contains a penalty, which is generally double the amount of the principal sum secured, only the sum actually owing, with interest, can be recovered, and in no case can this exceed the amount appearing on the face of the bond. See 8 & 9 Wm. 3, c. 11, s. 8; Re Dixon, (1900) 2 Ch 561.Although it is unnecessa...
unified transfer tax
unified transfer tax : a tax imposed under the Internal Revenue Code on the cumulative total of gifts made over a certain amount by a person during his or her lifetime or after death called also unified estate and gift tax see also unified credit NOTE: The unified transfer tax system creates liability for a single tax rather than separate liability for a gift tax and an estate tax. ...
Pandect', or Digesta
Pandect', or Digesta. In the last month of the year AD 530, Justinian, by a constitution addressed to Tribonian, empowered him to name a commission for the purpose of forming a code out of the writings of those jurists who had enjoyed the Jus respondendi, or, as it is expressed by the emperor, 'antiquorum prudentium quibus auctoritatem conscribendarum interpretandarumque legum sacratissimi principes pr'buerunt.' The compilation, however, comprises extracts from some writers of the republican period, Const. Deo Auctore. Ten years were allowed for the completion of the work. The instructions of the emperor were, to select what was useful, to omit what was antiquated or superfluous, to avoid unnecessary repetitions, to get rid of contradictions, and to make such other changes as should produce out of the mass of ancient juristical writings a useful and complete body of law (jus Antiquum);--the work was to be named Digesta, a Latin term indicating an arrangement of materials; or Pandect', ...
Phase splitter
A device by which a single phase current is split into two or more currents differing in phase It is used in starting single phase induction motors...
Adultery
Adultery [ad. Lat., and alter, another person], anciently termed Advowtry (quasi ad alterius thorum). The sin of incontinence between two married persons, or it may be where only one of them is married, in which case it may be called single adultery to distinguish it from the other, which has sometimes been called double.By the (English) Matrimonial Causes Act, 1857, which created a Court for Divorce and Matrimonial Causes (superseding the Ecclesiastical Court) which would grant to the innocent party a divorce a mensa et thoro on the ground of the other's adultery, a husband could obtain a dissolution of his marriage (before that Act, only obtainable and not infrequently obtained by a private Act of Parliament) upon the ground of his wife's adultery, and a wife could obtain a judicial separation on the ground of her husband's adultery, or a dissolution of marriage on the ground of his adultery coupled with cruelty or desertion or bigamy, or of his incestuous adultery, provided there be...
Single tax
A tax levied upon land alone irrespective of improvements advocated by certain economists as the sole source of public revenue...
step transaction doctrine
step transaction doctrine : a doctrine in tax law: a series of separate but related transactions may be viewed as a single transaction and the tax liability may be based on that transaction rather than the individual transactions in the series ...
Family
Family, in relation to a person, includes the ascend-ant and descendant of such person. [Bonded Labour System (Abolition) Act, 1976 (19 of 1976), s. 2(h)]. A group consisting of parents and their children; a group of person connected by blood by affinity, or by law, Black's Law Dictionary, 7th Edn., p. 620.In relation to an occupier, means the individual, the wife or husband, as the case may be, of such individual, and their children, brother or sister of such individual. [Child Labour (Prohibition and Regulation) Act, 1986 (61 of 1986), s. 2 (v)]In relation to an operator, means his wife and dependant children and includes his dependent parents. [Dangerous Machines (Regulation) Act, 1983 (35 of 1983), s. 3 (g)]Means:(i) In the case of a male-subscriber the wife or wives, parents, children, minor brothers, unmarried sisters, deceased son's widow and children and where no parent of the subscriber is alive, a paternal grandparent: Provided that if a subscriber proves that his wife has be...
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