Years - Law Dictionary Search Results
Home Dictionary Name: yearsYear
Year, means a period commencing on 1st April and ending on 31st March next following. [Rajasthan Public Libraries Act, 2006, s. 2(t)]Means a year commencing on 1st day of April. [Equity Linked Savings Scheme, 2005, s. 2(g)][fr. gear, Sax.], 365 days, twelve calendar months, fifty-two weeks and one day, or in Leap Year (q.v.) 366 days, i.e., fifty-two weeks and two days.The first day of the year was legally altered for England from the 25th of March to 1st of January in and after 1752 by the Calendar (New Style) Act, 1750 (24 Geo. 2, c. 23) (Chitty's Statutes, tit. ' Time '), but as appears from the preamble to that statute, the 1st of January had been the first day of the year in Scotland, in other nations, and by ' common usage throughout the whole kingdom.' See CALENDAR generally, when a statute speaks of a year it must be considered as twelve calendar and not lunar months, Bishop of Peterborough v. Catesby, 1608 Cro Jac 166.For the termination of the statutory year for certain finan...
Year to year, tenancy from
Year to year, tenancy from. This estate arises either expressly, as when land is let from year to year, or by a general parol demise, without any deter-minate interest, but reserving the payment of an annual rent; or impliedly, as when property is occupied generally under a yearly rent, payable yearly, half-yearly, or quarterly; or when such tenant holds over, after the expiration of his term, without having entered into any new contract, and pays rent (before which he is a tenant on sufferance), and in such cases the tenant holds over on such terms of the old tenancy lease as are applicable to a tenancy from year to year and to the particular tenancy.The qualities which distinguish a tenancy from year to year from proper terms for years, and from estates at will, are (1) that it exists by construction of law alone instead of an estate at will in every instance where a possession is taken with the consent of the legal owner and where an annual rent has been paid, but without there havi...
Year to year
Year to year, in s. 17(d) of the Registration Act, 1908, would mean that it relates to a year according to the 'British Calender' and not according to vernacular calendar. If this position is accepted, the lease deed of immovable property, from year to year, would become compulsorily registrable, if it is for a British calendar year, and not for a vernacular year. The words 'yearly rent' will have to be interpreted in the same manner as the words 'year to year' are interpreted, viz., the yearly rent according to British and not vernacular calendar, Dimili Narayana v. Dimili Stayanarayan, (1975) 2 Andh WR 226: (1975) 1 APLJ 372: 1975 ALT 190....
Term of years absolute
Term of years absolute, defined for the purposes of the (English) Law of Property Act, 1925, s. 205 (1) (xxvii.), as a term of years in possession or reversion whether or not at a rent with or without impeachment for waste, subject or not to another legal estate and either certain or liable to deter-mination by notice, re-entry, operation of law, or by a provision for cesser of redemption or in any other event (other than the dropping of a life or the determination of a determinable life interest, but does not include any term of years determinable with life or lives or with the cesser of a determinable life interest, nor if created after 1925 a term of years which is not expressed to take effect in possession within twenty-one years where required by the Act to take effect within that period (i.e., leases at a rent or in considation of a fine and not being leases of a reversion on a term, see s. 149 of the Act); and in that definition, term of years includes terms for less than years ...
Financial year
Financial year. By s. 22 of the (English) Interpretation Act, 1889 (52 & 53 Vict. c. 63):-In this Act and in every Act passed after the commencement of this Act [Jan. 1, 1890] the expression 'financial year' shall, unless the contrary intention appears, means as respects any matters relating to the Consolidated Fund, or moneys provided by Parliament, or to the Exchequer, or to Imperial taxes or finance, the 12 months ending the 31st day of March.Financial year shall means the year commencing on the first day of April. [General Clauses Act, 1897 (10 of 1897), s. 3(21)]Means the year ending on the 31st day of March, Bengal Engineering and Science University Shibpur Act, 2004, s. 2(5).Means the year beginning on the 1st April and ending on the 31st March of the next following year, Maharashtra Fiscal Responsibility and Budgetary Management Act, 2005, s. 2(b).Means the year beginning on the Ist April and ending on the 31st March next following, Rajasthan Fiscal Responsibilities and Budget ...
Co-operative year
Co-operative year, A co-operative year means the year commencing the first day of July and ending on June 30, of next following, Ziley Singh v. Registrar, Cane Co-operative Societies, (1972) 3 SCR 149: (1972) 1 SCC 719 (723): AIR 1972 SC 758. (U.P. Co-operative Societies Act, 1965)In relation to any multi-State co-operative society or class of such societies, means the year ending on the 31st day of March of the year and where the accounts of such society or class of such societies are, with the previous sanction of the Central Registrar, balanced on any other day, the year ending on such day. [The Multi-State Co-operative Societies Act, 2002 (37 of 2002), s. 3 (i)]...
In the course of such previous year
In the course of such previous year, 'in the course of such previous year' would, refer to the period commencing with the beginning of the previous year and termination with the end of the previous year. 'In the course of such previous year', would necessarily mean that free transferability of the shares by the holders to other members of the public should be present throughout the previous year, CIT v. East West Import and Export (P) Ltd., AIR 1989 SC 836 (838): (1989) 1 SCC 760. (Income-tax Act, 1922, s. 23A Expln.)...
Recruitment year
Recruitment year, means the English calendar year during which the recruitment is actually made, Maharashtra State Public Services (Reservation for Scheduled Castes, Scheduled Tribes, De-Notified Tribes (Vimukta Jatis) Nomadic Tribes, Special Backward Categories and Other Backward Classes) Act, 2001, s. 2(j).Means the year in which recruitment is actually made, S. Rajendran v. Union of India, (1998) 3 SCC 620.The recruitment year is the year in which recruit-ment takes place, but not each three successive years in which the vacancy exists, Harish Chandra Ram v. Mukh Ram Dubey, 1994 Supp (2) SCC 490 (492)....
Accounting year
Accounting year, means-(i) in relation to a corporation, the year ending on the day on which the books and accounts of the corporation are to be closed and balanced; (ii) in relation to a company, the period in respect of which any profit and loss account of the company laid before it in annual general meeting is made up, whether that period is a year or not; (iii) in any other case-(a) the year commencing on the 1st day of April; or (b) if the accounts of an establishment maintained by the employer thereof are closed and balanced on any day other than the 31st day of March, then, at the option of the employer, the year ending on the day on which its accounts are so closed and balanced: Provided that an option once exercised by the employer under paragraph (b) of this sub-clause shall not again be exercised except with the previous permission in writing of the prescribed authority and upon such conditions as that authority may think fit. [Payment of Bonus Act, 1965 (21 of 1965), s. 2 (...
taxable year
taxable year : a period of time used as the basis of tax computation that is usually the annual accounting period of a calendar year or fiscal year called also tax year ...
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