Overdraft - Year 1980 - Judgments

Jul 02 1980 (HC)

Amulya Gopal Majumdar Vs. United Industrial Bank Ltd. and ors.

Court: Kolkata

Decided on: Jul-02-1980

Reported in: AIR1981Cal404

..... in interest the metropolitan bank limited agreed to extend the overdraft limit in favour of eagle plywood industries private limited to ..... the eagle plywood industries private limited arranged for loan on an overdraft account from the banker s union limited since renamed as ..... clearly acknowledges that having entered into an arrangement for an overdraft account to the extent of rs 2 50 000 they .....

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Jul 02 1980 (HC)

The Tea Trading Corporation of India Vs. Pashok Tea Company Ltd. and o ...

Court: Kolkata

Decided on: Jul-02-1980

Reported in: AIR1980Cal282,85CWN8

..... were renewed from time to time the last agreement for overdraft being made in february 1973 the equitable mortgages were created ..... companies owning tea garden on similar mortgages and hypothecation all such overdrafts facilities were granted by the said bank up to 31st ..... another mortgage created by one of the guarantors of the said overdraft being a director of the company written statement has been .....

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Apr 28 1980 (HC)

Union Carbide India Ltd. Vs. Commissioner of Income-tax

Court: Kolkata

Decided on: Apr-28-1980

Reported in: (1980)19CTR(Cal)77,[1981]130ITR351(Cal)

..... that by incurring the expenditure the company had only obtained an overdraft facility for loan then the court came to the opinion ..... there the assessee company had incurred an expenditure to secure overdraft facilities with the bank for the purpose of its business ..... a case where the question was about the expenditure for securing overdraft facilities for the purpose of its business and in that .....

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Aug 01 1980 (HC)

Commissioner of Income-tax, Delhi (Central) Vs. Bharat Development P. ...

Court: Delhi

Decided on: Aug-01-1980

Reported in: [1982]135ITR456(Delhi)

..... value than their face value in order to wipe off his overdraft account and in the deal stood to again a considerable amount ..... surangmali punamchand surana v cit in that case the assessed who had overdraft account with the bank found that the bank has suspended operation ..... the face value of those deposits and them adjusted against his overdraft account with the bank in that process he stood to gain .....

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Oct 08 1980 (HC)

Govind Sharan Vs. Commissioner of Income-tax

Court: Rajasthan

Decided on: Oct-08-1980

Reported in: [1982]133ITR225(Raj)

..... hindu family govind sharan was also entitled to operate the accounts and overdraft facilities were obtained from the banks on the guarantee of the ..... joint hindu family income whose karta was govind sharan 10 obtaining of overdraft facilities by laxman prasad ramesh chandra does not come within the ..... interest payable to the bank on account of the overdraft runs to the extent of rs 2 400 during the continuance .....

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Apr 11 1980 (HC)

Commissioner of Income-tax Vs. H.R. Karandikar

Court: Mumbai

Decided on: Apr-11-1980

Reported in: (1981)20CTR(Bom)196; [1981]6TAXMAN242(Bom)

..... taken over by the three assessees and the assessees phatak and karandikar had obtained an overdraft from the presidency industrial bank poona for paying off the bombay party thus in january ..... were deposited subsequently phatak and karandikar raised moneys and repaid the amount adjusted against the overdraft amounts the tribunal also found that the agency company in whose account the exchange amount .....

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Dec 18 1980 (HC)

Sishu Ranjan Dutta and anr. Vs. Bhola Nath Paper House Ltd.

Court: Kolkata

Decided on: Dec-18-1980

Reported in: [1983]53CompCas883(Cal)

..... company served a notice on the company for payment of its overdraft loan in respect of the cash credit account and all the ..... bank limited has called upon the company to pay or liquidate the overdraft amount in the cash credit account therefore there is some jeopardy ..... will ascertain the total amount due by the respondent company in the overdraft account to the united industrial bank ltd at no 7 red .....

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Mar 31 1980 (HC)

Union of India (Uoi) Vs. Official Liquidator

Court: Kolkata

Decided on: Mar-31-1980

Reported in: [1983]53CompCas573(Cal)

..... staff bank of india calcutta for the advance of money and or overdraft facilities for running the business of the company by way of cash ..... to rs 2 02 71 371 before the said arrangement for the overdraft on cash credit account and the guarantee by the union of india ..... payment of the dues of the bank in respect of the said overdraft account it appears from the records that the management of the company .....

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Dec 03 1980 (HC)

State Bank of India Vs. B.M.S. Engineering Works (Pvt.) Ltd. and ors.

Court: Kolkata

Decided on: Dec-03-1980

Reported in: AIR1981Cal231

..... fact all repayments were made at ranchi and were credited to the defendant in its overdraft account at ranchi 16 in the case of current account it is well settled that ..... no obligation to ac cent payment in any office other than the office where the overdraft account is kept and to which the payment is to credited it is well settled .....

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Oct 24 1980 (HC)

Prakash NaraIn Vs. Commissioner of Income-tax and Wealth-tax

Court: Allahabad

Decided on: Oct-24-1980

Reported in: (1981)20CTR(All)147; [1982]134ITR364(All); [1981]6TAXMAN159(All)

..... firm 3 the use of the above mentioned two receipts as collateral security for the overdraft facility of rs 10 00 000 afforded to the respondent firm the high court took ..... and the use soon thereafter of the said fixed deposit receipt as security for the overdraft facility to the respondent firm did not justify the inference that the amount belonged to .....

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