Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Dishonor of cheque creates legally enforceable liability with a rebuttable presumption, requiring the respondent to introduce evidence to rebut it. The respondent failed to justify the reason for not adducing evidence initially. The presumption remains undislodged, yet the accused was acquitted. An offense u/s 138 of the Negotiable Instruments Act is committed when a cheque is dishonored for insufficient funds. The discrepancy over the interest rate, whether 1.8%, 2.4%, or 3% per month, was insufficient to disbelieve the appellant's claim. Even at 1.8% per month, the interest exceeded the prescribed cap of 12% per annum under the Tamil Nadu Act. The respondent, being a subscriber to a chit fund company, should have challenged the interest rate. The Appellate Court's order and the impugned judgment are set aside, restoring the Trial Court's order with a modification directing the respondent to pay a fine amounting to one and a half times the cheque amount.
Dishonor of cheque creates legally enforceable liability with a rebuttable presumption, requiring the respondent to introduce evidence to rebut it. The respondent failed to justify the reason for not adducing evidence initially. The presumption remains undislodged, yet the accused was acquitted. An offense u/s 138 of the Negotiable Instruments Act is committed when a cheque is dishonored for insufficient funds. The discrepancy over the interest rate, whether 1.8%, 2.4%, or 3% per month, was insufficient to disbelieve the appellant's claim. Even at 1.8% per month, the interest exceeded the prescribed cap of 12% per annum under the Tamil Nadu Act. The respondent, being a subscriber to a chit fund company, should have challenged the interest rate. The Appellate Court's order and the impugned judgment are set aside, restoring the Trial Court's order with a modification directing the respondent to pay a fine amounting to one and a half times the cheque amount.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
