https://www.taxtmi.com/caselaws?id=289231 A bill of exchange payable on a fixed future date was treated, for stamp-duty purposes, as falling within the statutory concept of a bill payable on demand, so no stamp duty was attracted and the instrument remained admissible in evidence. The defence of want or failure of consideration was rejected because the defendant's own admissions showed supply of diamonds and acceptance of the bill, while the alleged arrangement with the drawer did not bind the plaintiff. Where the bill was silent on interest, statutory interest applied, and the plaintiff was entitled to interest at 18 per cent per annum. en-us Fri, 03 Mar 2006 00:00:00 +0530 Wed, 22 Jul 2020 00:15:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289231 A bill of exchange payable on a fixed future date was treated, for stamp-duty purposes, as falling within the statutory concept of a bill payable on demand, so no stamp duty was attracted and the instrument remained admissible in evidence. The defence of want or failure of consideration was rejected because the defendant's own admissions showed supply of diamonds and acceptance of the bill, while the alleged arrangement with the drawer did not bind the plaintiff. Where the bill was silent on interest, statutory interest applied, and the plaintiff was entitled to interest at 18 per cent per annum. Case-Laws Indian Laws Fri, 03 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289231