Overdraft - Year 1968 - Judgments

Apr 26 1968 (SC)

Jotish Chandra Chaudhury Vs. State of Bihar

Court: Supreme Court of India

Decided on: Apr-26-1968

Reported in: AIR1969SC7; 1969(17)BLJR159; 1969CriLJ257; [1969]1SCR130

..... mudholkar r s bachawat raghuvar dayal and v ramaswami jj the appellant had a combined overdraft and deposit account also described as a mutual open and current account with the respondent ..... best interests 114 a f h 115 a b ii the respondent gave loans on overdrafts and the appellant made deposits the loans and deposits created mutual obligations since the account .....

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Jul 05 1968 (HC)

Nippani Electricity Company (Private) Ltd. (by Its Director, V. R. Pat ...

Court: Karnataka

Decided on: Jul-05-1968

Reported in: [1968(17)FLR281]; (1969)ILLJ268Kant; (1968)2MysLJ194

..... in respect of transactions relating to loans and advances loans and mortgages cash credit or overdraft bonds agreements of pawn or pledge and letters of hypothecation executed by farmers for agricultural .....

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Feb 28 1968 (HC)

Commissioner of Income-tax, W.B. I Vs. National and Grindlays Bank Ltd ...

Court: Kolkata

Decided on: Feb-28-1968

Reported in: AIR1969Cal71,72CWN891,[1969]72ITR121(Cal)

..... which he held that the corporation while carrying out capital expansion in india utilised the overdraft granted by the assessee in purchasing machinery in england and bringing the same for installation ..... the purchase of the capital machinery the contractual liability to pay those bills and the overdrafts were integral parts of one complete transaction 6 the assessee appealed to the appellate .....

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Mar 11 1968 (HC)

R. B. Ram Rattan Prem Nath Vs. Commissioner of Income-tax, U.P.

Court: Allahabad

Decided on: Mar-11-1968

Reported in: [1969]71ITR624(All)

..... year under consideration the substance of the statement being that overdrafts had been taken by the assessee from the bharat bank ..... during the original assessment proceedings was that it had taken overdrafts against the call deposit account standing in the name of ..... nath in the original assessment proceedings that the assessee took overdrafts against the call deposit account of padmawati did not mean .....

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Feb 22 1968 (HC)

Commissioner of Income-tax, West Bengal Vs. Nawn Estates Private Ltd.

Court: Kolkata

Decided on: Feb-22-1968

Reported in: [1968]70ITR784(Cal)

..... guarantee commission in this case because the assessee company mortgaged this property to secure an overdraft by the bank to its associate company that means that the equity of redemption which ..... section 12 2 of the income tax act whether the loan is taken on an overdraft or is a fixed deposit or on a debenture makes no difference in law the .....

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Nov 18 1968 (HC)

J. G. Ingram and Son Ltd. Vs. Callaghan (inspector of Taxes).

Court: Kolkata

Decided on: Nov-18-1968

Reported in: [1969]74ITR282(Cal)

..... its debenture who sold the companys factory but not its machinery in satisfaction of the overdraft he wound up his receivership in june 1960 but completion of the sale was not .....

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Mar 11 1968 (HC)

R.B. Ram Rattan Prem Nath, Dehradun Vs. Commissioner of Income Tax, U. ...

Court: Allahabad

Decided on: Mar-11-1968

Reported in: AIR1969All375

..... during the original assessment proceedings was that it had taken overdrafts against the call deposit account standing in the name of ..... nath in the original assessment proceedings that the assessee took overdrafts against the call deposit account of padmawati did not ..... 1922 statement by assessee during original assessment that he took overdraft from certain bank full details of account not supplied .....

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Jul 25 1968 (SC)

Jeewanlal (1929) Ltd. Vs. Commissioner of Income-tax, West Bengal Ii

Court: Supreme Court of India

Decided on: Jul-25-1968

Reported in: AIR1969SC753; [1969]74ITR753(SC)

..... incurred by the assessee for the purpose of raising or securing overdraft facilities from the bank was an expenditure of capital nature ..... not recorded any finding as to the extent of the overdraft facility the period if any for which the facility was ..... 15 of income tax act 1961 expenditure was incurred for securing overdraft facilities from bank departmental authorities did not treat expenditure as .....

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Dec 02 1968 (HC)

T.J. Lalvani Vs. Commissioner of Income-tax, Bombay

Court: Mumbai

Decided on: Dec-02-1968

Reported in: [1970]78ITR176(Bom)

..... the assessee enjoyed the confidence of this bank and had the facility of a huge overdraft from the bank he guranteed the letters of credit opened by ebrahim lookmanji for the ..... the assessee enjoyed the confidence of this bank and had the facility of a huge overdraft from the bank he guranteed the letters of credit opened by ebrahim lookmanji for the .....

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