https://www.taxtmi.com/caselaws?id=441024 In cheque dishonour prosecutions, once the accused raises a probable defence and rebuts the statutory presumption under the Negotiable Instruments Act, the complainant must independently prove a legally enforceable debt. Here, the Court found that the defence version of blank or security cheques, together with the absence of satisfactory proof of the loan transaction, rebutted the presumption under Section 139. The complainant also failed to establish adequate financial capacity or to reflect the alleged loans in income-tax records. As the acquittal was neither perverse nor unreasonable, no interference was called for and the acquittal was affirmed. en-us Thu, 20 Jul 2023 00:00:00 +0530 Tue, 01 Aug 2023 09:01:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441024 In cheque dishonour prosecutions, once the accused raises a probable defence and rebuts the statutory presumption under the Negotiable Instruments Act, the complainant must independently prove a legally enforceable debt. Here, the Court found that the defence version of blank or security cheques, together with the absence of satisfactory proof of the loan transaction, rebutted the presumption under Section 139. The complainant also failed to establish adequate financial capacity or to reflect the alleged loans in income-tax records. As the acquittal was neither perverse nor unreasonable, no interference was called for and the acquittal was affirmed. Case-Laws Indian Laws Thu, 20 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441024