Overdraft - Judgment Search Results
Home > Cases Phrase: overdraft Year: 1981 Page 1 of about 23 results (0.008 seconds)Woolcombers of India Ltd. Vs. Commissioner of Income-tax (Central)
Court: Kolkata
Decided on: Feb-12-1981
Reported in: (1981)23CTR(Cal)204,[1982]134ITR219(Cal)
..... advance tax was met out of business profits and not out of the company s overdraft account the learned counsel further arguedthat the bank account was continuously operated for all financial ..... tax the appellant had no adequate cash surplus and the company had resorted to the overdraft specifically for this purpose therefore the ito was quite justified in disallowing proportionate interest the .....
Tag this Judgment! Ask ChatGPTShree Digvijay Cement Co. Ltd. Vs. Commissioner of Income-tax, Gujarat ...
Court: Gujarat
Decided on: Aug-03-1981
Reported in: (1982)26CTR(Guj)184; [1982]138ITR45(Guj)
..... it is necessary to set out the statement showing details of overdraft against the shares investments in the equity shares of wcpm and ..... acquired in the year 1955 when there wereno borrowings borrowings in overdraft account with the state bank of saurashtra which were the only ..... investments in shares were not made out of moneys borrowed in overdraft account in 1957 also in july 1959 the assessee company .....
Tag this Judgment! Ask ChatGPTKrishna Kishore Kar Vs. United Commercial Bank and anr.
Court: Kolkata
Decided on: Jul-08-1981
Reported in: AIR1982Cal62
..... defendant goerge john lyster by way of security for his overdraft on current account the charge provided as follows hereby covenants ..... had pledged fix deposit receipts by way of security against overdraft and had agreed that on maturity the proceeds of the ..... fixed deposits would be credited in the overdraft account to liquidate plaintiff s liability in the written statement .....
Tag this Judgment! Ask ChatGPTIndian Glass Agency Vs. Commissioner of Income-tax
Court: Delhi
Decided on: Sep-22-1981
Reported in: (1982)26CTR(Del)394; [1982]137ITR245(Delhi)
..... may have sufficient cash balance or it may have sufficient provision for overdraft on the bank on the basic of which it could honour ..... the bona fides of the firm in choosing to allow on overdraft facility in the donor and the partnership deed contains no prohibition ..... that the book entries had been given effect to by allowing overdraft facilities to the donors the decisions of the punjab high court .....
Tag this Judgment! Ask ChatGPTState Bank of Travancore Vs. Mohammed Mohammed Khan
Court: Supreme Court of India
Decided on: Aug-21-1981
Reported in: AIR1981SC1744; 1981(3)SCALE1253; (1981)4SCC82; [1982]1SCR338; 1981(13)LC896(SC)
..... of 1970 hereinafter called the act 2 the respondent had an overdraft account with the erattupetta branch of the kottayam orient bank ..... respondent for recovery of the amount due from him in the overdraft account with the kottayam orient bank the right to recover which ..... to the kottayam orient bank ltd a banking company on an overdraft account that bank was amalgamated with the appellant bank with effect .....
Tag this Judgment! Ask ChatGPTCadbury Fry (India) Ltd. Vs. Income-tax Officer.
Court: Mumbai
Decided on: Mar-25-1981
Reported in: [1982]2ITD435(Mum)
..... contention raised in these appeals relates disallowance of interest on bank overdraft as indicated below assessment year 1973 74rs 2 93 277assessment ..... of interest of rs 3 32 612 by way of overdraft interest on bank loans for the assessment year 1974 75 ..... business and therefore the question of disallowance of interest on bank overdraft did not arise the commissioner appeals however relying on the .....
Tag this Judgment! Ask ChatGPTStretchlon (P.) Ltd. Vs. Income-tax Officer
Court: Income Tax Appellate Tribunal ITAT Mumbai
Decided on: Jul-07-1981
Reported in: (1982)1ITD627(Mum.)
..... the tribunal when it heard the matter earlier and he submitted that overdraft facility of the assessee was to the tune of rs 10 ..... on certain occasions if it was utilised it could be obtained through overdraft facility and on certain occasions it was for payment to sister ..... could be postponed or for which the assessee was well within its overdraft capacity though it was not wholly so in respect of rs .....
Tag this Judgment! Ask ChatGPTCommissioner of Income-tax, Tamil Nadu-v Vs. Rudrappan and Company
Court: Chennai
Decided on: Dec-22-1981
Reported in: [1984]147ITR204(Mad)
..... would be held either loose or in bales bags and the like the assessees had overdraft and key loan facilities with a nationalised bank the bank used to advance key loans ..... have been declared by the assessees to the bank with a view to get more overdraft facilities indeed it is precisely this consideration on which the aac persuaded himself to delete .....
Tag this Judgment! Ask ChatGPTReckitt and Colman of India Ltd. Vs. Commissioner of Income-tax
Court: Kolkata
Decided on: Jul-22-1981
Reported in: (1982)26CTR(Cal)24,[1982]135ITR698(Cal)
..... month wise break up appears to be as follows monthtrading receipts deposited in the bank overdraft account as per assessment ordertaxes paid from the bank over draft account as per assessment ..... paid by the applicant on the amount utilised for payment of taxes out of the overdraft account is not an allowable deduction must be answered in the negative and in favour .....
Tag this Judgment! Ask ChatGPTCommissioner of Income-tax, Bombay City-i Vs. Nirlon Synthetic Fibres ...
Court: Mumbai
Decided on: Aug-31-1981
Reported in: (1981)25CTR(Bom)155; [1982]137ITR1(Bom); [1982]8TAXMAN90a(Bom)
..... of the case the interest expenditure of rs 5 52 936 relating to the bank overdraft utilised for erection of the factory forms part of the actual cost of the assets ..... is the point involved in question no 1 4 the assessee company had taken an overdraft from the mercantile bank ltd during the construction period and had paid interest of rs .....
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