https://www.taxtmi.com/caselaws?id=761061 Execution of a promissory note, once proved through oral testimony and admitted signatures or thumb impression, attracted the statutory presumption of consideration under the Negotiable Instruments Act. That presumption remained rebuttable, but the defendant had to establish a probable defence on the balance of probabilities. The materials relied on were found insufficient to show misuse of the instrument, collusion, or repayment of the alleged earlier loan. No adverse inference arose from non-production of account books or income-tax returns without a notice to produce. In second appeal, the concurrent findings of fact were not shown to be perverse, so the decrees for the plaintiff were sustained. en-us Fri, 18 Oct 2024 00:00:00 +0530 Mon, 04 Nov 2024 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761061 Execution of a promissory note, once proved through oral testimony and admitted signatures or thumb impression, attracted the statutory presumption of consideration under the Negotiable Instruments Act. That presumption remained rebuttable, but the defendant had to establish a probable defence on the balance of probabilities. The materials relied on were found insufficient to show misuse of the instrument, collusion, or repayment of the alleged earlier loan. No adverse inference arose from non-production of account books or income-tax returns without a notice to produce. In second appeal, the concurrent findings of fact were not shown to be perverse, so the decrees for the plaintiff were sustained. Case-Laws Indian Laws Fri, 18 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761061