https://www.taxtmi.com/caselaws?id=305326 A promissory note executed after the commencement of the Madras Agriculturists Relief Act, 1938, in renewal of an earlier debt remained governed by section 9 because the renewed liability had to be traced back to the original pre-Act indebtedness. Section 7 provided the general scaling-down mandate, sections 8 and 9 dealt with pre-Act and specified earlier debts, and the proviso to section 9(1) showed that renewal after commencement did not convert the debt into a new post-Act liability. Section 13 applied to interest on debts incurred after commencement and did not displace section 9 where the underlying debt was earlier. The renewed debt was therefore subject to the Act's scaling-down scheme. en-us Mon, 31 Aug 1964 00:00:00 +0530 Tue, 29 Nov 2022 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305326 A promissory note executed after the commencement of the Madras Agriculturists Relief Act, 1938, in renewal of an earlier debt remained governed by section 9 because the renewed liability had to be traced back to the original pre-Act indebtedness. Section 7 provided the general scaling-down mandate, sections 8 and 9 dealt with pre-Act and specified earlier debts, and the proviso to section 9(1) showed that renewal after commencement did not convert the debt into a new post-Act liability. Section 13 applied to interest on debts incurred after commencement and did not displace section 9 where the underlying debt was earlier. The renewed debt was therefore subject to the Act's scaling-down scheme. Case-Laws Indian Laws Mon, 31 Aug 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305326