https://www.taxtmi.com/caselaws?id=459815 The court ruled that a cheque issued on an account closed prior to its issuance falls within the scope of Section 138 of the N.I. Act, emphasizing the legislative intent to maintain the credibility of cheque transactions. The accused failed to rebut the presumption under Section 139 that the cheque was issued for a legally enforceable debt. Consequently, the appeal was allowed, the appellate court's acquittal was set aside, and the trial court's verdict of guilty was restored, resulting in a sentence of imprisonment till the rising of the court and a compensation directive. en-us Fri, 06 Feb 2004 00:00:00 +0530 Mon, 30 Dec 2024 12:14:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=459815 The court ruled that a cheque issued on an account closed prior to its issuance falls within the scope of Section 138 of the N.I. Act, emphasizing the legislative intent to maintain the credibility of cheque transactions. The accused failed to rebut the presumption under Section 139 that the cheque was issued for a legally enforceable debt. Consequently, the appeal was allowed, the appellate court's acquittal was set aside, and the trial court's verdict of guilty was restored, resulting in a sentence of imprisonment till the rising of the court and a compensation directive. Case-Laws Indian Laws Fri, 06 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=459815