Trade - Indian Laws - General

Word trade In Halsbury s Laws of England, Third Edn. Vol. 38 p. 8- (a) exchange of goods for goods or goods for money; (b) any business carried on with a view to profit, whether manual, or mercantile, as distinguished from the liberal arts or learned professions and from agriculture; and business means an enterprise which is an occupation as distinguished from pleasure. Manufacture is a kind of productive industry in which the making of articles or material (often on a large scale) is by physical labour or mechanical power. Calling denotes the following of a profession or trade. THE MANAGEMENT OF SAFDARJUNG VERSUS KULDIP SINGH SETHI- 1970 (1) TMI 89 - SUPREME COURT Word Trade Trade in its primary meaning is the exchanging of goods for goods or goods for money ; in its secondary meaning it is repeated activity in the nature of business carried on with a profit motive, the activity being manual or mercantile, as distinguished from the liberal arts or learned professions or agriculture. The question whether trade is carried on by a person at a given place must be determined on a consideration of all the circumstances. No test or set of tests which is or are decisive for all cases can be evolved for determining whether a person carries on trade at particular place. The question, though one of mixed law and fact, must in each case be determined on a consideration of the nature of the trade, the various steps taken for carrying on the trade and other relevant facts. STATE OF PUNJAB AND ANOTHER VERSUS BAJAJ ELECTRICALS LIMITED- 1967 (12) TMI 28 - SUPREME COURT Trade As per the Webster s New Twentieth Centuary Dictionary (2nd edition), trade means amongst others, A means of earning one s living, occupation or work. In Black s, Law Dictionary , trade means A business which a person has learnt or he carries on for procuring subsistence or profit; occupation or employment, etc. INSTITUTE OF CHARTERED ACCOUNTANTS OF INDIA AND ANR. - 2011 (9) TMI 77 - DELHI HIGH COURT