Speculation - Law Dictionary Search Results
Home Dictionary Name: speculationSpeculative transaction
Speculative transaction, a transaction is not 'speculative' within the meaning of sub-s. (5) of s. 43, Income Tax Act, 1961 where there is a breach of the contract and on a dispute between the parties damages are awarded as compensation by an arbitration award. The definition of 'speculative transaction' in s. 43(5) has to be interpreted by importing the sense conveyed by the law relating to the contracts, Commissioner of Income Tax v. Shantilal Pvt. Ltd., AIR 1983 SC 952 (954): (1983) 3 SCC 561: (1983) 3 SCR 470. [Income Tax Act, 1961, s. 43(5)]Explanation 2 to s. 24(1) of the Income Tax Act defines a speculative transaction as 'a transaction in which a contract for purchase and sale of any commodity including stocks and shares is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips .......'. It is apparent that what is contemplated is a real or factual delivery or transfer, and not a notional delivery or transfer, Jute Invest...
speculation
speculation : an act or instance of speculating: as a : assumption of unusual business risk in hopes of obtaining commensurate gain b : a transaction involving such speculation ...
speculate
speculate -lat·ed -lat·ing vi 1 : to theorize on the basis of insufficient evidence NOTE: A jury is not permitted to speculate on a matter about which insufficient evidence has been presented in reaching its verdict. 2 : to assume a business risk in hope of gain ;esp : to buy or sell in expectation of profiting from market fluctuations vt : to take to be true on the basis of insufficient evidence spec·u·la·tor [-lā-tər] n ...
speculative risk
speculative risk : a risk that may result in either a loss or a gain compare pure risk ...
Accumulated loss
Accumulated loss, means so much of the loss of the amalgamating banking company under the head 'profits and gains of business or profession' (not being a loss sustained in a speculation business) which such amalgamating banking company, would have been entitled to carry forward and set off under the provisions of section 72 if the amalgamation had not taken place. [Income Tax Act, 1961 (43 of 1961), s. 72AA, Exp.]Means so much of the loss of the amalgamating banking company under the head 'Profits and gains of business or profession' is not being a loss sustained in a speculation business which such amalgamating bank company, would have been entitled to carry forward and set-off under the provisions of section 72 if the amalgamation had not taken place, [Income Tax Act, 1961, s. 72AA Explanation]...
speculative
speculative 1 : involving, based on, or constituting intellectual speculation ;also : theoretical rather than demonstrable [ medical testimony concerning the cause of death] 2 : of, relating to, or being a financial speculation [ securities] [ home building] spec·u·la·tive·ly adv ...
pyramid
pyramid 1 : a group of holding companies superimposed on one another to give those in control of the top holding company control over all of the companies with a small investment 2 : the series of operations involved in pyramiding on an exchange 3 : a pyramid scheme vi : to speculate (as on a security or commodity exchange) by using paper profits as a margin for additional transactions vt 1 : to use (as profits) in speculative pyramiding 2 : to increase the impact of (as a tax assessed at the production level) on the ultimate consumer by treating as a cost subject to markup adj : of, relating to, or being an illegal scheme in which participants give money or other valuables in exchange for the opportunity to receive payment for recruiting others to participate in the scheme ...
Proved
Proved, there is no difference between the general rules of evidence in civil and criminal cases, and the definition of 'proved' in s. 3 of the Evidence Act does not draw a distinction between civil and criminal cases. Nor does this definition insist on perfect proof because absolute certainty amounting to demonstration is rarely to be had in the affairs of life. Nevertheless, the standard of measuring proof prescribed by the definition, is that of a person of prudence and practical good sense. 'Proof' means the effect of the evidence adduced in the case, Ch. Razik Ram v. Ch. Jaswant Singh Chouhan, AIR 1975 SC 667: (1975) 4 SCC 769.(ii) S. 3 of the Evidence Act, a fact is said to be 'proved' when, after considering the matters before it, the court either believes it to exist, or considers its existence so probable than a prudent man ought, under the circumstances of the particular case, to act upon the supposition that it exists. This definition of 'proved' does not draw any distinctio...
Stockjobber
Stockjobber, a dealer in stock; one who buys and sells stock on his own account on speculation. See STOCK EXCHANGE...
Reasonable doubt
Reasonable doubt, does not mean some light, airy, insubstantial doubt that may fit through the minds of any of us about almost anything at some time or other; it does not mean a doubt begotten by sympathy out of reluctance to convict; it means a real doubt, a doubt founded upon reasons, K. Gopal Reddy v. State of Andhra Pradesh, AIR 1979 SC 387 (391): (1979) 2 SCR 363: (1979) 1 SCC 355.The doubt that prevents one from being firmly convinced of a defendant's guilt, or the belief that there is a real possibility that a defendant is not guilty, Black's Law Dictionary, 7th Edn., p. 1272.If a reasonable doubt arises in the mind of the court after taking into consideration the entire material before it regarding the complicity of the accused the benefit of such doubt should be given to the accused but the reasonable doubt should be a real and substantial one and a 'well founded actual doubt arising out of the evidence existing after consideration of all the evidenced. 'Hence a mere whim or a...
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