Revenue - Indian Laws - General

Revenue As per Black s Law Dictionary Revenue . Gross income or receipts. In MITRA S LEGAL AND COMMERCIAL DICTIONARY Revenue. Gross income or receipts; earnings; intake; proceeds; return or yield. The word revenue is a word of somewhat indefinite import, but in its ordinary sense in relation to a business undertaking it connotes those incomings of the undertaking which are the products of or are incidental to the normal working of the undertaking. [ London, Midland etc. V. Anglo-Scottish Railways, etc. 150 LT 361]. Revenue Account . The account of a firm or a company showing the result of its operations and what profit or loss it has made. For the purpose of ascertaining profits arising from the business of a company, capital account and revenue account are prima facie to be treated as separate accounts. The credit balance of revenue account is applicable for dividend. WHARTONS LAW LEXICON Revenue Income, annual profit received from land or other funds; Revenue Account is thus the profit and loss account annually drawn by the enterprise. ISHAR GAS OIL PVT. LTD AND ORS VERSUS UNION OF INDIA ORS. - 2012 (8) TMI 603 - DELHI HIGH COURT