with a company. It also acts as an inclusive definition including 'any money borrowed by' a company and also excluding the amounts received ... pledge for the relevant loan ;"
7. While borrowing is included in the definition, sub-clauses (iii) and (iv) show that a loan would also
payable in any manner in respect of any moneys borrowed or debt incurred. The inclusive definition provides interest on deposit, claim or other similar right ... sense as are used specifically in respect of moneys borrowed or debt incurred. The inclusive definition has, therefore, to be read along with specific words
Maharashtra
State Cooperative Bank Ltd. & Ors 9.
(m) Borrowing a definition from one statute into another
cannot be permitted.(Apex Cooperative Bank,
Venkataeshwar Hatcheries ... Excise
Act it has been so adopted and in other cases the
definition of the term 'Manufacture' under the FTP
has been continued
definition from an Act is transposed into another Act, it is as if the said definition is physically written into the borrowing Act without ... such definition is used in the first Act. Admittedly the scope of the two Acts would be distinct and if the definition is borrowed from
duty imposed on 10.5.2008. The export tariff schedule does not contain any definition of alloy and non-alloy steel. However, the Board in its clarification ... that the Board has directed the field officials to apply the borrowed definition of alloy steel from the Import Schedule of the Customs Tariff
section (2) of Section 32A of the Act, was borrowed from the definition given to it by the Ministry of Industries, the various notifications issued ... that, the term small scale unit, might have been so borrowed from the definition given to it by the Ministry of Industries, but, since
definition from an Act is transposed into another
Act, it is as if the said definition is physically written into the
borrowing Act without ... such definition is used in the first Act. Admittedly the scope of
the two Acts would be distinct and if the definition is borrowed
from
Income-tax Act, 1961 . General rule of statutory interpretation permits borrowal of definition
from supplementary Acts/Rules/Regulation. Accordingly, the Safe Harbor Rule which ... under section 119 of the Income-tax Act, the
definition mentioned therein could be borrowed and adopted herein. According to Rule 10TA
Therefore, the
notification relied upon by the Appellant in order to borrow
the definition of IT/ITES industries, has no application to the
present case
Icici Prudential Life Insurance ... vs Department Of Income Tax on 20 June, 2012
ITA Nos
