https://www.taxtmi.com/caselaws?id=794636 The Madras HC addressed challenges that a promissory note and related documents were forged, whether the loan and consideration were proved, and whether omission to show the transaction in income tax returns affected enforceability. The court found that the promissory note, voucher, cheque, notice and reply letter supported the plaintiff's case, that the defendant did not deny the signatures, and that the reply letter amounted to an admission of borrowing and an undertaking to repay. Once execution of the negotiable instrument was proved, the presumption of consideration under Section 118 of the Negotiable Instruments Act applied, and the defendant failed to rebut it. The court also held that non-reflection in income tax returns did not by itself defeat the claim. en-us Mon, 29 Jun 2026 00:00:00 +0530 Thu, 09 Jul 2026 08:35:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=794636 The Madras HC addressed challenges that a promissory note and related documents were forged, whether the loan and consideration were proved, and whether omission to show the transaction in income tax returns affected enforceability. The court found that the promissory note, voucher, cheque, notice and reply letter supported the plaintiff's case, that the defendant did not deny the signatures, and that the reply letter amounted to an admission of borrowing and an undertaking to repay. Once execution of the negotiable instrument was proved, the presumption of consideration under Section 118 of the Negotiable Instruments Act applied, and the defendant failed to rebut it. The court also held that non-reflection in income tax returns did not by itself defeat the claim. Case-Laws Indian Laws Mon, 29 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=794636