Tax Due - Law Dictionary Search Results
Home Dictionary Name: tax due Page: 3apportion
apportion : to make a usually proportionate division or distribution of (an amount due) according to a plan: as a : to divide (an amount due in tax or other liability) among the parties responsible for respective shares of the payment compare contribution b : to assign (a portion of the consideration agreed to in a contract) as payment for the other party's partial performance c : to distribute (corporate dividends) based on some proportion d : to assign (legislative representatives and taxes) among the states as provided by law ap·por·tion·able adj ap·por·tion·ment n ...
Fraud
Fraud, a fraud is an act of deliberate deception with the design of securing something by taking unfair advantage of another. It is a deception in order to gain by another's loss. It is a cheating intended to got an advantage, S.P. Chengalvaraya Naidu v. Jagannath, AIR 1994 SC 853 (855): (1994) 1 SCC 1.A term used in a variety of meanings. At Common Law, fraud is actionable under the heading of deceit (q.v.).A knowing misrepresentation of the truth or con-cealment of a material fact to induce another to act to his or her detriment, Black's Law Dictionary, 7th Edn., p. 670.In equity and upon the equitable principles which are now applicable in any Court of law, fraud may be described as an infraction of the rules of fair dealing. For the action at law intention and representation (q.v.) are material. In equity an act or its consequences to the person aggrieved may be of greater importance than the intention of the defendant or any representation made to the plaintiff, and the same may b...
For the purpose of the business
For the purpose of the business, the expression 'for the purpose of the business' is essentially wider than the expression 'for the purpose of earning profits.' It covers not only the running of the business or its administration but also measures for the preservation of the business and protection of its assets and property. It may legitimately comprehend many other acts incidental to the carrying on of the business, CIT v. Birla Cotton SPG & WVG Mills Ltd., (1971) 3 SCC 344: AIR 1972 SC 19 (21). [Income-tax Act, 1922, s. 10(2) (xv)]For the purpose of the business, The expression 'for the purpose of the business' is wider in scope than the expression 'for the purpose of earning profits'. Its range is wide: it may take in not only the day to day running of a business but also the rationaliza-tion of its administration and modernization of its machinery; it may include measure for the preservation of the business and for the protection of its assets and property from expropriation, coer...
Paid
Paid, means payable and is equivalent to offered or tendered, Mohammed Basbir v. Azizul Kadar, AIR 1967 All 1: (1966) AWR (HC) 442.Paid, takes in every receipt by the employee from the employer whether it was due to him or not, Commissioner of Income Tax, Kerala and Coimbatore v. L.W. Russell, AIR 1965 SC 49. [Income Tax Act, 1922, s. 7(1)]Paid, the expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. In general, dividend may be said to be paid within the meaning of s. 16(2) when the company discharges its liability and makes the amount of dividend unconditionally available to the member entitled thereto, J. Dalmia v. Commissioner of Income Tax, AIR 1964 SC 1866: (1964) 7 SCR 579. [Income Tax Act, 1922, s. 16(2)]The expression 'paid' in s. 16(2) does not contemplate actual receipt of the dividend by the member. The only difference between the expression 'paid' and the expression 'distribution' is that the latter necessarily involves the idea ...
Surcharge
Surcharge, an overcharge of what is just and right; exceeding one's powers or privileges; a declaration by an auditor that a person is personally liable to refund a particular part of public money illegally expended by him [see, e.g. the Public Health Act, 1875, s. 247 (7)]; a second or further mortgage. See AUDIT.1. An additional tax, charge, or cost usu. one that is excessive 2. An additional load or burden, Black's Law Dictionary, 7th Edn.The expression 'surcharge' in the context of taxation means an additional imposition which results in enhancement of the tax and the nature of the additional imposition is the same as the tax on which it is imposed as surcharge. A surcharge on land revenue is an enhancement of the land revenue to the extent of the imposition of surcharge. The nature of such imposition is the same viz., land revenue on which it is a charge, Sarojini Tea Co. (P) Ltd. v. Collector of Dibrugarh, AIR 1992 SC 1264 (1269): (1992) 2 SCC 156. [Assam Land Revenue and Land (S...
Maturity
Maturity, the maturity of a promissory note or bill of exchange is the date at which it falls due. [Nego-tiable Instruments Act, 1881 (26 of 1881), s. 22]--the time when a bill of exchange or promissory note becomes due....
Aurum regin'
Aurum regin', queen-gold. A royal revenue belonging to every queen consort during her marriage with the king, and due from every person who has made a voluntary offering or fine to the king amounting to ten marks or upwards, for and in consideration of any privileges, grants, licenses, pardons, or other matters of royal favour conferred upon him by the king. It is due in the proportion of one-tenth part more, over and above the entire offering or fine made to the king, and becomes an actual debt of record to the queen's majesty by the mere recording of the fine, 1 Bl. Com. 214....
bona fide holder
bona fide holder : a holder of a negotiable instrument who acquired title to the instrument in the ordinary course of business for value before it became due and without knowledge of any defect in title compare holder in due course ...
Contribution
Contribution, to any fund shall not include any sums in repayment of loan. [Income-tax Act, 1961 (43 of 1961), s. 80C(8)(ii)]Means the sum of money payable to the corporation by the principal employer in respect of an employee and includes any amount payable by or on behalf of the employee in accordance with the provisions of this Act. [Employees' State Insurance Act, 1948 (34 of 1948), s. 2(4)]The word 'contribution' used in the proviso must also be given its due meaning. It cannot be understood as donations. If that be so, a voluntary contribution cannot amount to a compulsive donation. If the donor, in order to gain an advantage or benefit, if he apprehends that but the contribution some adverse consequence would follow, makes a donation certainly it ceases to be voluntary, Municipal Corpn. of Delhi v. Children Book Trust, AIR 1992 SC 1456 (1472): (1992) 3 SCC 390. [Delhi Municipal Corporation Act, 1957, (66 of 1957), s. 115(4)(a), Proviso]The performance by each of two or more pers...
Pellagra
An affection of the skin characterized by redness especially in exposed areas scaling and shedding of the skin and accompanied with severe gastrointestinal disturbance and nervous symptoms It is due to a deficiency of niacin vitamin B3 nicotinic acid and protein in the diet and may be caused by malnutrition or in some cases by a heavy dependence on maize for food It was at one time ca 1890 endemic in Northern Italy and was called Alpine scurvy It may also be caused by alcoholism or diease causing an impairment of nutrition It is also called St Ignatiuss itch maidism mal de la rosa mal rosso and psychoneurosis maidica A variety of pellagra seen in children is called infantile pellagra or kwashiorkor...
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