https://www.taxtmi.com/caselaws?id=307179 In a prosecution under Section 138 of the Negotiable Instruments Act, the statutory presumption of a legally enforceable debt may be rebutted by the accused on a preponderance of probabilities, not beyond reasonable doubt. The court examined the cheque, agreement, promissory note and affidavit together, but found surrounding circumstances that cast doubt on the alleged loan transaction, including the agreement's character as an arrangement for future payment and the absence of any loan entry in the complainant's income tax return. On that material, the presumption under Sections 118 and 139 stood rebutted, and conviction could not be sustained without affirmative proof of liability. en-us Tue, 06 Oct 2015 00:00:00 +0530 Thu, 23 Mar 2023 20:40:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307179 In a prosecution under Section 138 of the Negotiable Instruments Act, the statutory presumption of a legally enforceable debt may be rebutted by the accused on a preponderance of probabilities, not beyond reasonable doubt. The court examined the cheque, agreement, promissory note and affidavit together, but found surrounding circumstances that cast doubt on the alleged loan transaction, including the agreement's character as an arrangement for future payment and the absence of any loan entry in the complainant's income tax return. On that material, the presumption under Sections 118 and 139 stood rebutted, and conviction could not be sustained without affirmative proof of liability. Case-Laws Indian Laws Tue, 06 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307179