https://www.taxtmi.com/caselaws?id=407584 The statutory presumption under Section 139 of the Negotiable Instruments Act remained rebuttable, and the record showed the cheques were described in the settlement agreement as security for the settlement amount rather than as payment of a proved debt. The complainant failed to produce material establishing financial capacity, cheque-wise particulars, or the alleged expenditure in income tax returns, which created serious doubt about the asserted liability. The defence version of stop-payment instructions and security cheques was supported by the evidence, so the presumption stood rebutted and the offence under Section 138 was not proved beyond reasonable doubt; the acquittal was upheld. en-us Wed, 28 Apr 2021 00:00:00 +0530 Fri, 14 May 2021 08:34:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407584 The statutory presumption under Section 139 of the Negotiable Instruments Act remained rebuttable, and the record showed the cheques were described in the settlement agreement as security for the settlement amount rather than as payment of a proved debt. The complainant failed to produce material establishing financial capacity, cheque-wise particulars, or the alleged expenditure in income tax returns, which created serious doubt about the asserted liability. The defence version of stop-payment instructions and security cheques was supported by the evidence, so the presumption stood rebutted and the offence under Section 138 was not proved beyond reasonable doubt; the acquittal was upheld. Case-Laws Indian Laws Wed, 28 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407584