https://www.taxtmi.com/caselaws?id=286889 Money credited in a firm's books for years, with annual statements, interest credits and repayment on demand, was treated as a deposit rather than a loan; the claim was therefore governed by Article 60 of the Indian Limitation Act and remained within limitation. A father's non-tainted debt could also be enforced against the sons' interest in joint family property under the doctrine of pious obligation; as no immoral or unlawful purpose was shown, the heirs were liable to the extent recognised by Hindu law. The claim thus succeeded on both limitation and enforceability against joint family property. en-us Fri, 18 Apr 1969 00:00:00 +0530 Thu, 19 Mar 2020 16:02:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286889 Money credited in a firm's books for years, with annual statements, interest credits and repayment on demand, was treated as a deposit rather than a loan; the claim was therefore governed by Article 60 of the Indian Limitation Act and remained within limitation. A father's non-tainted debt could also be enforced against the sons' interest in joint family property under the doctrine of pious obligation; as no immoral or unlawful purpose was shown, the heirs were liable to the extent recognised by Hindu law. The claim thus succeeded on both limitation and enforceability against joint family property. Case-Laws Indian Laws Fri, 18 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286889