https://www.taxtmi.com/caselaws?id=401137 Admission of signature on a cheque attracts the statutory presumption of legally enforceable debt under the Negotiable Instruments Act, and the accused must rebut it with credible evidence. A defence of security cheque, shifting explanations, or an uncorroborated story of alternative liability was treated as insufficient to displace that presumption. Non-disclosure of the loan in income-tax returns and alleged contravention of Section 269SS of the Income-tax Act did not, by themselves, invalidate the underlying transaction. The commentary also notes that an appellate court may interfere with an acquittal where the trial court's appreciation of admitted cheque evidence and defence material is perverse. en-us Wed, 25 Nov 2020 00:00:00 +0530 Sat, 28 Nov 2020 09:40:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401137 Admission of signature on a cheque attracts the statutory presumption of legally enforceable debt under the Negotiable Instruments Act, and the accused must rebut it with credible evidence. A defence of security cheque, shifting explanations, or an uncorroborated story of alternative liability was treated as insufficient to displace that presumption. Non-disclosure of the loan in income-tax returns and alleged contravention of Section 269SS of the Income-tax Act did not, by themselves, invalidate the underlying transaction. The commentary also notes that an appellate court may interfere with an acquittal where the trial court's appreciation of admitted cheque evidence and defence material is perverse. Case-Laws Indian Laws Wed, 25 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401137