https://www.taxtmi.com/caselaws?id=440436 The court found the promissory notes valid, dismissing the defendants' claim of material alteration. The plaintiff, a financial business, proved the genuineness of the transaction, entitling them to recover Rs. 2,49,00,000 with 12% interest per annum and suit costs. The defendants' argument regarding cash payment violation was rejected, clarifying that any breach would trigger tax authorities' action, not invalidate the transaction. The court ruled in favor of the plaintiff, granting the requested reliefs and directing the defendants to pay the specified amounts. en-us Mon, 05 Jun 2023 00:00:00 +0530 Wed, 19 Jul 2023 08:59:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440436 The court found the promissory notes valid, dismissing the defendants' claim of material alteration. The plaintiff, a financial business, proved the genuineness of the transaction, entitling them to recover Rs. 2,49,00,000 with 12% interest per annum and suit costs. The defendants' argument regarding cash payment violation was rejected, clarifying that any breach would trigger tax authorities' action, not invalidate the transaction. The court ruled in favor of the plaintiff, granting the requested reliefs and directing the defendants to pay the specified amounts. Case-Laws Indian Laws Mon, 05 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440436