https://www.taxtmi.com/caselaws?id=346481 The court upheld the petitioner's conviction under Section 138 of the NI Act as the presumption of a legally enforceable debt was not rebutted. The petitioner's defense failed to disprove the debt or liability under Section 139 of the NI Act. Despite breaches of the Income Tax Act, the court clarified that such transactions are not void. The petitioner's sentence was reduced to time served, with the deposited compensation to be released to the complainant after 30 days. en-us Thu, 10 Aug 2017 00:00:00 +0530 Thu, 17 Aug 2017 08:41:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=346481 The court upheld the petitioner's conviction under Section 138 of the NI Act as the presumption of a legally enforceable debt was not rebutted. The petitioner's defense failed to disprove the debt or liability under Section 139 of the NI Act. Despite breaches of the Income Tax Act, the court clarified that such transactions are not void. The petitioner's sentence was reduced to time served, with the deposited compensation to be released to the complainant after 30 days. Case-Laws Indian Laws Thu, 10 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=346481