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Levy

money or men. Assessment and collection of income tax The expression 'levy, assessment and collection of income-tax' in section 13(1) of the Finance Act, 1950, was wide enough to comprehend re-assessment proceedings under section 34 of the

sale

seller's inventory called also bulk transfer NOTE: Article 6 of the Uniform Commercial Code governs bulk sales. Under section 6-102(c), in order for a sale to be considered a bulk sale, the buyer (or an auctioneer or

Accumulated loss

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.]

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Application

[Administrative Tribunals Act, 1985 (13 of 1985), s. 3 (b)] Means an application made to a Tribunal under section 19, Recovery of Debts Due to Banks and Financial Institutions Act, 1993 (51 of 1993), s. 2(b). Means

Party

Party, a guardian instituting suit on behalf of a minor is not a 'party' within the meaning of section 195(1)(c) of Criminal Procedure Code against whom a complaint can be directed to be issued by an order

Arbitration

end. An appeal lies from the Court's decision on an award in the form of a special case under this section, and see s. 9 of the Act of 1934. Cases under either section maybe remitted to the arbitrator

Adjudicating officer

Adjudicating officer, means the officer appointed by the Board as adjudicating officer under section 19H of the Act [Depositories (Procedure for Holding Inquiry and Imposing Penalties by Adjudicating Officer) Rules, 2005, R.

Aggregate value of taxable service

sum total of first consecutive payments received during a financial year towards the gross amount, as prescribed under section 67 of the Act, charged by the service provider towards taxable services but does not include payments received

cancel

unenforceable esp. by purposely marking through or otherwise marring the words or signature of NOTE: As stated in section 3-604 of the Uniform Commercial Code, a party that is entitled to enforce a negotiable instrument may cancel

Notwithstanding anything contained in sub-s. (3) (Essential Commodities Act, 1955)

Notwithstanding anything contained in sub-s. (3) (Essential Commodities Act, 1955), the amount payable to the person required to sell his stock of sugar would be with reference to the price fixed under the sub-section and not...

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