https://www.taxtmi.com/caselaws?id=290559 The Bihar Money-lenders (Regulation of Transactions) Act, 1939 could be applied in a pending Federal Court appeal, allowing retrospective cognizance of the new legislation. A signed chitha or balance entry was not treated as the governing document for fixing the loan under Section 7 because it recorded an acknowledgment of balance due and interest, but did not contain an express undertaking to pay or constitute a fresh bond. Recovery was therefore confined to the principal amount, with interest revised within the statutory limit and the broader claim for past interest disallowed. en-us Mon, 18 Mar 1940 00:00:00 +0530 Mon, 05 Oct 2020 17:06:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290559 The Bihar Money-lenders (Regulation of Transactions) Act, 1939 could be applied in a pending Federal Court appeal, allowing retrospective cognizance of the new legislation. A signed chitha or balance entry was not treated as the governing document for fixing the loan under Section 7 because it recorded an acknowledgment of balance due and interest, but did not contain an express undertaking to pay or constitute a fresh bond. Recovery was therefore confined to the principal amount, with interest revised within the statutory limit and the broader claim for past interest disallowed. Case-Laws Indian Laws Mon, 18 Mar 1940 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290559