Overdraft - Year 1979 - Judgments

Jun 14 1979 (HC)

Manjula Devi Vs. State of Karnataka and ors.

Court: Karnataka

Decided on: Jun-14-1979

Reported in: (1980)IILLJ370Kant

..... 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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Apr 17 1979 (SC)

Madhav Prasad Jatia Vs. Commissioner of Income-tax, U.P. Lucknow

Court: Supreme Court of India

Decided on: Apr-17-1979

Reported in: AIR1979SC1291; [1979]118ITR200(SC); (1979)3SCC634; [1979]3SCR745

..... the assessee contended that she had preferred to draw on the overdraft account of the bank for the purpose of paying the ..... the district magistrate bulandshahr on january 7 1956 for which the overdraft with the central bank was operated and hence the interest was ..... business according to him once a borrowing was made from an overdraft account meant for business purposes the ultimate utilization of that .....

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Feb 06 1979 (HC)

Hindusthan Commercial Bank Ltd. Vs. Probodh Kumar Mitter and anr.

Court: Kolkata

Decided on: Feb-06-1979

Reported in: AIR1980Cal292

..... into the title to the shares pledged with the bank against overdraft allowed in the account 23 ultimately the learned judge has summed ..... it is an admitted position that the said account was an overdraft account of r n ghosh against pledge of securities being government ..... it was an admitted position that the said account was an overdraft account of r n ghosh against pledge of securities being government .....

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Feb 02 1979 (HC)

Shyam Sundar Bhartia and ors. Vs. Gourishankar Bhartia and ors.

Court: Kolkata

Decided on: Feb-02-1979

Reported in: AIR1980Cal230

..... before the sale the cheque was deposited in the firm s overdraft account with the lloyds bank he denied that there was any ..... business biswanath bhartia corroborated the aforesaid e the dues in the overdraft account have been shown to be liquidated by the said sale ..... discharge the debts of the business of omkarmal bhartia in its overdraft account with lloyds bank calcutta as such it cannot be seriously .....

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Sep 27 1979 (HC)

Swadeshi Cotton Mill Co. Ltd. Vs. Commissioner of Income-tax

Court: Allahabad

Decided on: Sep-27-1979

Reported in: (1980)15CTR(All)334; [1980]125ITR33(All); [1980]3TAXMAN280(All)

..... the bank for the purposes of getting a larger amount of overdraft however the assessee had failed to explain satisfactorily that the entire ..... quantity of the stocks with a view to obtain a larger overdraft from the bank the explanation was accepted by the tribunal ..... stock and value was warranted by the necessity to obtain larger overdraft the assessee however had failed to furnish any particulars to .....

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Sep 19 1979 (SC)

Commissioner of Income-tax, Kerala Vs. Alagappa Textiles (Cochin) Ltd.

Court: Supreme Court of India

Decided on: Sep-19-1979

Reported in: AIR1980SC235; [1979]120ITR480(SC); (1980)1SCC214; [1980]1SCR723; 1979(11)LC919(SC)

..... and stock in trade with such bank or banks where arrangements for overdrafts shall have been completed by the board of directors and it could ..... 3 the assessee was to open a separate current account and an overdraft account for a limit not exceeding rs 30 00 000 with such ..... trade that may be created in favour of the banks for the overdraft account and such charge in favour of kamala mills was to be .....

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Oct 30 1979 (HC)

Commissioner of Income-tax (Central) Vs. Express Newspapers Ltd.

Court: Chennai

Decided on: Oct-30-1979

Reported in: (1980)15CTR(Mad)383; [1980]124ITR117(Mad)

..... case the assessee company owned a building it had given it as security for an overdraft from a bank to an associated concern with reference to the building it was taxable ..... claimed that it was deriving income by way of guarantee commission in respect of the overdraft granted to the associated concern by the bank and that the balance of the municipal .....

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Feb 28 1979 (HC)

Commissioner of Income-tax, Bombay City-i Vs. Favre-leuba and Co. Ltd.

Court: Mumbai

Decided on: Feb-28-1979

Reported in: [1979]120ITR897(Bom); [1979]1TAXMAN419(Bom)

..... received interest of rs 72 771 it may be mentioned that the assessee had an overdraft on which interest of rs 9 286 was paid the surplus of rs 63 485 ..... advanced its funds collected by way of deposits from sub distributors and from the bank overdraft to sifco ltd in whose manufacturing activities the assessee was vitally interested once the nature .....

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Jan 10 1979 (HC)

Mool Chand Vs. Ram Phool and anr.

Court: Allahabad

Decided on: Jan-10-1979

Reported in: AIR1979All189

..... of travancore 1970 1scr658 bank a of which the appellant was the manager had an overdraft account with bank b the appellant s father had executed from time to time letters ..... in favour of bank b agreeing to pay amounts due by bank a under the overdraft arrangement bank b filed a suit against bank a the appellant and his father it .....

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Aug 02 1979 (HC)

Siddho Mal and Sons Vs. Income-tax Officer

Court: Delhi

Decided on: Aug-02-1979

Reported in: [1980]122ITR839(Delhi)

..... the firm stated before the ito that if funds were arranged by way of an overdraft from the bank instead of being taken from the minors overall charges would have touched .....

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