https://www.taxtmi.com/caselaws?id=793665 Execution of a promissory note and passing of consideration remain established where the borrower neither specifically denies the transaction nor adduces rebuttal evidence. The statutory presumption of consideration under the Negotiable Instruments Act continues unless displaced by evidence; non-examination of an attestor is not fatal where execution is not effectively disputed. Absence of income-tax returns or alleged lack of financial capacity does not, without a proper factual foundation, prove that the loan never occurred. A possible breach of the cash-payment restrictions under the Income-tax Act does not make the loan unenforceable. The money suit was decreed after the earlier dismissal was set aside. en-us Thu, 04 Jun 2026 00:00:00 +0530 Sat, 20 Jun 2026 08:04:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793665 Execution of a promissory note and passing of consideration remain established where the borrower neither specifically denies the transaction nor adduces rebuttal evidence. The statutory presumption of consideration under the Negotiable Instruments Act continues unless displaced by evidence; non-examination of an attestor is not fatal where execution is not effectively disputed. Absence of income-tax returns or alleged lack of financial capacity does not, without a proper factual foundation, prove that the loan never occurred. A possible breach of the cash-payment restrictions under the Income-tax Act does not make the loan unenforceable. The money suit was decreed after the earlier dismissal was set aside. Case-Laws Income Tax Thu, 04 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793665