windfall gain or loss definition

windfall gain or loss in respect of a month means any gain or loss on any stock of petroleum product purchased by entities responsible for the storage and distribution of petroleum products, and petroleum products on stock at retail outlets, purchased at a lower or higher price, as the case may be, in the preceding month being carried forward to the next succeeding month to be sold at higher or lower new price, as the case may be, resulting in a gain or loss. [261/08]
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Related to windfall gain or loss

  • Net Loss means, for each fiscal year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period as determined for federal income tax purposes by the General Partner, determined in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), adjusted as follows:

  • Residual Gain or “Residual Loss” means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or Section 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • GP-Related Net Income (Loss) has the meaning set forth in Section 5.1(b).

  • Economic loss means any economic detriment suffered by a victim as a direct and proximate result of the commission of an offense and includes any loss of income due to lost time at work because of any injury caused to the victim, and any property loss, medical cost, or funeral expense incurred as a result of the commission of the offense. "Economic loss" does not include

  • Gain means a gain of any property, whether temporary or permanent, and includes the keeping by a person of any property that he or she already has;