Overdraft - Year 1966 - Judgments

Aug 09 1966 (HC)

ishwari Khetan Sugar Mills Private Ltd. Vs. Commissioner of Income-tax ...

Court: Allahabad

Decided on: Aug-09-1966

Reported in: [1967]63ITR376(All)

..... an agreement with the punjab national bank for obtaining an overdraft the income tax officer would appear to have accepted that ..... expenditure was for the purpose of obtaining an overdraft from the bank overdraft facilities are generally for a limited period renewable ..... facts of the present case where expenditure was for obtaining overdraft facilities from the bank the supreme court also pointed out .....

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Oct 25 1966 (SC)

The Commissioner of Income-tax, Madras Vs. Sri Meenakshi Mills Ltd., o ...

Court: Supreme Court of India

Decided on: Oct-25-1966

Reported in: AIR1967SC819; [1967]63ITR609(SC); [1967]1SCR934

..... interest receipts from the pudukottai branches in the assessment of the assessee companies since the overdrafts availed of by the assessee companies in british india far exceeded the available profits the ..... the constitution of the assessee companies and the bank and the figures of deposits and overdrafts the appellate assistant commissioner found that the deposits made by the assessee companies and .....

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Sep 09 1966 (HC)

The Canara Industrial and Banking Syndicate Ltd. Vs. V. Ramachandra Ga ...

Court: Karnataka

Decided on: Sep-09-1966

Reported in: AIR1968Kant133; AIR1968Mys133; (1967)1MysLJ490

..... was because of an agreement of the first defendant with the plaintiff under which an overdraft to the extend of rs 20 000 is allowed by the plaintiff bank to him ..... a 3 a 5 and a 7 since they were within the limit of the overdraft sanctioned by the head office to the first defendant under exhibits a 2 a 4 .....

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Apr 28 1966 (HC)

Commissioner of Income-tax Vs. Laxmichand Muchhal

Court: Madhya Pradesh

Decided on: Apr-28-1966

Reported in: [1966]36CompCas610(MP); [1966]61ITR555(MP)

..... credit to the assessee after receiving the documents but that was by way of an overdraft and that if the bank had purchased the bills or documents then the assessee without ..... asking the bank to give it overdraft facility would havebeen entitled to get the valuable consideration paid for the discounting of the .....

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Jan 17 1966 (HC)

Balimal Nawal Kishore Vs. Commissioner of Income-tax, Punjab.

Court: Punjab and Haryana

Decided on: Jan-17-1966

Reported in: [1966]62ITR669(P& H)

..... there was not enough money to the assessees account and the firm chose to allow overdraft facilities to the assessee was not relevant and did not affect the validity of the .....

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Apr 08 1966 (HC)

Workmen of Tinnevelly-tuticorIn Electric Supply Company, Ltd. Vs. Indu ...

Court: Chennai

Decided on: Apr-08-1966

Reported in: (1967)ILLJ523Mad

..... investments bills receivable stock book debts and similar liquid assets minus its trade creditors bank overdraft bills payable and similar floating liabilities represents the working capital of the company in calculating .....

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Apr 01 1966 (HC)

Daulatram Rawatmull Vs. Commissioner of Income-tax, Central

Court: Kolkata

Decided on: Apr-01-1966

Reported in: AIR1967Cal547,[1967]64ITR593(Cal)

..... reassessment the income tax officer found inter alia that the assessee firm had obtained an overdraft to the extent of rs 10 00 000 upon the security of two fixed deposit .....

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Mar 17 1966 (HC)

investment Ltd. Vs. Commissioner of Income-tax

Court: Madhya Pradesh

Decided on: Mar-17-1966

Reported in: AIR1967MP28

..... several companies managed or otherwise the appellant company had to resort to obtaining loans and overdrafts it is therefore clear that shares were acquired by the appellant company in the ordinary .....

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Mar 08 1966 (HC)

A. Kuppiah Mudaliar Vs. Commissioner of Income-tax, Madras.

Court: Chennai

Decided on: Mar-08-1966

Reported in: [1967]63ITR522(Mad)

..... these bonds had been lodged with the state bank of india as security against an overdraft of rs 47 000 taken by the hindu undivided family these securities were obtained from .....

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May 03 1966 (HC)

Om Prakash Mohta Vs. Steel Equipment and Construction Co. (P.) Ltd.

Court: Kolkata

Decided on: May-03-1966

Reported in: [1968]38CompCas82(Cal)

..... others of such modes of payment k to borrow by way of discount cash or overdraft or upon bond mortgage debenture debenture stock deposit bill promissory note receipt or in any .....

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