Assessment time-barred u/s 153 due to missing competent-authority reference for Singapore exchange of information; assessment disallowed as barred by ...
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Admissible signature on the cheque attracted statutory presumptions under Sections 118 and 139 NI Act that it was issued towards a legally enforceable debt, shifting the burden to the accused to rebut by credible defence evidence or by creating reasonable doubt through inconsistencies in the complainant's case; the accused failed to discharge this burden, and concurrent findings of guilt were sustained. Alleged violations of money-lending law or Section 269SS Income Tax Act were held not to render the underlying loan void or unenforceable for Section 138 NI Act. Conviction under Section 138 NI Act was maintained, but sentence was modified by setting aside imprisonment upon payment of compensation within the stipulated time, failing which imprisonment would revive. - HC
Admissible signature on the cheque attracted statutory presumptions under Sections 118 and 139 NI Act that it was issued towards a legally enforceable debt, shifting the burden to the accused to rebut by credible defence evidence or by creating reasonable doubt through inconsistencies in the complainant's case; the accused failed to discharge this burden, and concurrent findings of guilt were sustained. Alleged violations of money-lending law or Section 269SS Income Tax Act were held not to render the underlying loan void or unenforceable for Section 138 NI Act. Conviction under Section 138 NI Act was maintained, but sentence was modified by setting aside imprisonment upon payment of compensation within the stipulated time, failing which imprisonment would revive. - HC
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