https://www.taxtmi.com/caselaws?id=775560 Section 139 of the NI Act creates a rebuttable presumption that a cheque was issued toward a legally enforceable debt or liability, and the accused may displace it by a probable defence on a preponderance of probabilities. A cash loan or deposit above Rs. 20,000 accepted in breach of Section 269SS of the Income-tax Act is not legally enforceable unless a valid explanation is shown under Section 273B. The article relies on Rangappa to explain that the presumption covers enforceable debt, distinguishes penalty under tax law from criminal enforceability under the NI Act, and states that the rule applies prospectively where the issue is specifically raised. en-us Fri, 25 Jul 2025 00:00:00 +0530 Mon, 11 May 2026 18:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=775560 Section 139 of the NI Act creates a rebuttable presumption that a cheque was issued toward a legally enforceable debt or liability, and the accused may displace it by a probable defence on a preponderance of probabilities. A cash loan or deposit above Rs. 20,000 accepted in breach of Section 269SS of the Income-tax Act is not legally enforceable unless a valid explanation is shown under Section 273B. The article relies on Rangappa to explain that the presumption covers enforceable debt, distinguishes penalty under tax law from criminal enforceability under the NI Act, and states that the rule applies prospectively where the issue is specifically raised. Case-Laws Indian Laws Fri, 25 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=775560