Commercial vehicle depreciation, scientifically determined warranty provisions and exempt-income disallowances were resolved in favour of the taxpayer...
SC upheld the conviction of the accused-respondent for dishonoring a cheque under Section 138 of the Negotiable Instruments Act. The Court found substantial evidence establishing a valid loan transaction, including cheque payments and the accused's failure to rebut the presumption of liability. The High Court's contrary findings were deemed perverse and set aside. The SC restored the lower courts' judgments, sentencing the accused-respondent to a fine of Rs. 16,00,000 or nine months' simple imprisonment in default, with the fine to be paid to the complainant's legal heirs within three months.
SC upheld the conviction of the accused-respondent for dishonoring a cheque under Section 138 of the Negotiable Instruments Act. The Court found substantial evidence establishing a valid loan transaction, including cheque payments and the accused's failure to rebut the presumption of liability. The High Court's contrary findings were deemed perverse and set aside. The SC restored the lower courts' judgments, sentencing the accused-respondent to a fine of Rs. 16,00,000 or nine months' simple imprisonment in default, with the fine to be paid to the complainant's legal heirs within three months.
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