margin amount also, there was
nothing unnatural or illegal for the Bank taking into
account this margin amount which had become its money at
that ... forfeiture, the money became
Bank's own money. The Income Tax Officer was right in
treating this forfeited money as income of the assessee
shortfall in the
margin in the account of the respondent, the same constituted a demand for
payment of shortfall of margin money.
17. Learned counsel ... next day of the margin shortfall on 20th March, 2013. He submits that the
respondent received the demand for margin money of Rs. 20 lacs
Total 696890948
12. Reply of the assessee was that the bullion margin money
advances were always converted to cash sales and what was credited ... 1491/17.
margin money account had to be considered only as sales and not as
credit. As per the assessee, such amounts were fully reflected
members paid
into their accounts (a) refunds which they obtained of
margin moneys which they had deposited with the Association
and to which they were ... favour of the Bank of Baroda. Taking up
first the margin money refunds, purchasers had, under the
bye-laws, to pay margin moneys on their
since 2007. There was no dispute
between the parties that all margin money was paid by the petitioner from time to
time whenever demanded ... demanded any margin amount of Rs.15.00 lacs on 22 nd
January, 2008, the petitioner would have paid such margin money and in support
entitled to claim
adjustment of `30,31,250/- on account of margin
money? OPD.
5. Whether the plaintiff is entitled to claim any
service charges ... Thirty Lakhs Thirty One
Thousand Two Hundred and Fifty only) towards margin money
as per the agreement. It was pleaded that service charges, in
case
respect of the Bank guarantee the defendant No. 2 had demanded margin money from the plaintiff to cover the said guarantee and pursuant ... defendant No. 2 and had demanded refund of the margin money of Rs. 1,83,500/- from the defendant Bank but it failed and neglected
counsel would contend that the respondent-company has unjustifiably withheld the margin money payable right from August 13, 1989, and has not paid any part ... petitioner-company to collect the margin in respect of its operation as distributor, it cannot collect the maximum margin money, since the language employed
income on the monies kept with the bank by way of margin money for taking foreign Letter of Credit by the Assessee to the tune ... been earned from the bank deposits made for the purpose of margin money and accordingly, the appeal was allowed. Aggrieved by the same, the present
Bank Ltd., for
which it had deposited Rs.36 crores as margin money. To summarize,
the appellant-company would like to reproduce the relevant part ... fact a direct nexus between the fixed deposit placed
as margin money with the performance bank guarantee given to State
Electricity Utility Company, This fact
