Overdraft - Year 1976 - Judgments

Oct 18 1976 (HC)

Ve. A. Firm, Represented by Its Managing Partner and ors. Vs. the Indi ...

Court: Chennai

Decided on: Oct-18-1976

Reported in: (1977)2MLJ354

..... bank of india accorded permission for the grant of the overdraft advances to the appellants and also permitted the appellants and ..... the transfer of funds in india in liquidation of the overdraft account as against the appellant firm though they have originally ..... corrected it in their own handwriting to part adjustment of the overdraft admittedly this form was prepared by the bank officials they .....

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Dec 03 1976 (HC)

Commissioner of Income-tax Vs. Guest Keen and Nettlefold Ltd.

Court: Kolkata

Decided on: Dec-03-1976

Reported in: [1978]115ITR205(Cal)

..... this purpose and pointed out that the assessee had discharged the entire overdraft by the sale of the rights shares which it had taken ..... sold not to meet a pressing demand because the bank agreed to overdraft facilities for 18 months but were sold much earlier 19 taking ..... the balance of rs 78 65 679 the assessee took an overdraft from the national and grindlays bank ltd taking all the factstogether .....

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Nov 09 1976 (HC)

Waldies Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Decided on: Nov-09-1976

Reported in: [1977]110ITR577(Cal)

..... accounting period ended on september 30 1970 the assessee had an overdraft account receipts were deposited in this account and payments including taxes ..... part of the earlier receipts had been utilised for repayment of overdraft and what part had been used for payment of taxes he ..... case the payment of interest on the amounts utilised from the overdraft of the state bank of india for payment of taxes was .....

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Dec 17 1976 (SC)

Krishnanand Vs. the State of Madhya Pradesh

Court: Supreme Court of India

Decided on: Dec-17-1976

Reported in: AIR1977SC796; 1977CriLJ566; (1977)1SCC816

..... appellant in his turn had borrowed an identical amount by taking an overdraft from the allahabad bank akola and therefore if the sum of rupees ..... considered as his asset the liability of rupees 14 000 in the overdraft account with the allahabad bank akola should be set off against ..... with interest aggregating to rs 16 065 68 was credited in the overdraft account on 4th june 1959 as a result of which the .....

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Mar 01 1976 (HC)

Commissioner of Income-tax Vs. Amalgamations (P.) Ltd.

Court: Chennai

Decided on: Mar-01-1976

Reported in: [1977]108ITR895(Mad)

..... into liquidation some time in 1955 for the purpose of overdraft facilities the subsidiary viz sembiam saw mills executed a promissory ..... into liquidation the assessee as guarantor was required to clear those overdrafts in accordance with the terms of the guarantee after adjusting ..... assessee from the liquidated company on account of the said overdraft was rs 9 08 764 the assessee claimed this amount .....

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Mar 18 1976 (HC)

South Indian Bank Ltd. Vs. Imperial Chit Funds (P.) Ltd. (In Liquidati ...

Court: Kerala

Decided on: Mar-18-1976

Reported in: [1976]46CompCas665(Ker)

..... recovery of the amount due to the applicant bank as per the overdraft account of the imperial chit funds p ltd ernakulam 2 the ..... the 1st respondent company desired that the applicant bank allow them an overdraft facility on the basis of the second charge on the above said ..... to 4 the applicant bank sanctioned the said request and allowed an overdraft facility to the extent of rs 20 000 on the second .....

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Feb 12 1976 (HC)

Balwant Singh Vs. the State Bank of India and ors.

Court: Punjab and Haryana

Decided on: Feb-12-1976

Reported in: AIR1976P& H316

..... of the amount advanced to the firm on 18th july 1966 the firm was granted overdraft facility to the extent of rupees 10 000 by the bank and in this account ..... facility that the plaint discloses no cause of action against defendant no 5 qua the overdraft facility and cash credit loan accommodation and that there being no allegation in the plaint .....

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Sep 20 1976 (HC)

Chaubey Sushil Chandra Vs. Raj Bahadur

Court: Allahabad

Decided on: Sep-20-1976

Reported in: AIR1977All259

..... were mutual dealings between the parties in that case the respondent bank gave loans on overdrafts and the appellant made deposits the loans by the respondent created obligations on the appellant .....

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Apr 15 1976 (HC)

Commissioner of Income-tax Vs. Amalgamations (P.) Ltd.

Court: Chennai

Decided on: Apr-15-1976

Reported in: [1977]109ITR115(Mad)

..... a subsidiary by name sembiam saw mills pvt ltd sembiam saw mills had taken an overdraft for rs 9 08 764 which was guaranteed by the assessee as sembiam saw mills .....

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Feb 09 1976 (HC)

Bherumal Hotchand Vs. P.V. Gandhi and ors.

Court: Chennai

Decided on: Feb-09-1976

Reported in: AIR1977Mad141

..... partnership the firm was dealing in textiles and it ran into debts it had an overdraft account with the bank of india the eventual balance found due to the bank from .....

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