https://www.taxtmi.com/article/detailed?id=7201 Where a loan has been advanced and instalments have fallen due under the agreement, post dated cheques deposited with the lender-even if described as security-represent an existing legally enforceable liability; dishonour of such cheques therefore attracts the penal provision for cheque dishonour, whereas cheques issued merely as anticipatory payments or for cancelled commercial transactions do not create present enforceable liability. en-us Wed, 11 Jan 2017 07:10:50 +0530 Wed, 11 Jan 2017 07:10:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7201 Where a loan has been advanced and instalments have fallen due under the agreement, post dated cheques deposited with the lender-even if described as security-represent an existing legally enforceable liability; dishonour of such cheques therefore attracts the penal provision for cheque dishonour, whereas cheques issued merely as anticipatory payments or for cancelled commercial transactions do not create present enforceable liability. Articles Other Topics Wed, 11 Jan 2017 07:10:50 +0530 https://www.taxtmi.com/article/detailed?id=7201