Speculative Transaction - Law Dictionary Search Results
Home Dictionary Name: speculative transaction Page 1 of about 6 results ( seconds)Speculative 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...
hedge
hedge hedged hedg·ing : to reduce possible losses in speculative transactions by engaging in offsetting transactions (as futures trading) ...
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 ...
Joint-stock Banks
Joint-stock Banks, joint-stock companies for the purpose of banking. They are regulated, according to the date of their incorporation, by charter, or by 7 Geo. 4, c. 46; 7 & 8 Vict. cc. 32 and 113; 9 & 10 Vict. c. 45 (in Scotland and Ireland); 20 & 21 Vict. cc. 49 & 91; and 27 & 28 Vict. c. 32; or by the Companies Act, 1929, in substitution for previous Acts, which makes registration under it compulsory in the case of a partnership consisting of more than ten persons. It is believed that the liability of the shareholders in chartered banks is in most if not in all cases limited to some amount fixed by the charter, generally twice the amount of their shares. Under the (English) Companies Act, the liability may be either limited or unlimited, and most banks registered under the old Companies Act of 1862 were unlimited until 1880, when many took advantage of the (English) Companies Act, 1879 (42 & 43 Vict. c. 76), to register anew as limited; see now Companies Act, 1929, ss. 321, 322, 359...
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 ...
Forward contract
Forward contract, means a transaction involving delivery, other than Cash or Tom or Spot delivery, of foreign exchange. [Foreign Exchange Manage-ment (Foreign Exchange Derivative Contracts) Regulations, 2000, R. 2 (iv)]The expression 'forward contracts' in s. 2(c) is construed so as to include speculative contracts which ostensibly are for delivery of goods, Shivanarayana Kabre v. State of Madras, AIR 1967 SC 986 (989). [Forward Contracts (Regulation) Act, (74 of 1952), s. 2(c)]An agreement to buy or sell a particular non-standardized asset (use currencies) at a fixed price on a future rate, Black's Law Dictionary, 7th Edn., p. 666....
- << Prev.
- Next >>