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Tax Management India

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Court upholds presumption u/s 118 139 of N.I. Act in dishonored cheque case. Accused failed to rebut statutory presumption. Revision dismissed.: In this case, the High Court addressed the issue of dishonour of a cheque u/s 138 of the N.I. Act. The accused issued a cheque in discharge of a debt but failed to pay the amount within 15 days of receiving a demand notice. The court applied the presumption u/s 118 and 139 of the N.I. Act, which states that every negotiable instrument is presumed to be made for consideration and that the holder received the cheque for the discharge of debt. The accused did not dispute the cheque or his signature, failing to rebut the statutory presumption. The court found no merit in the revision petition and dismissed it. The accused's failure to provide evidence led to disbelief in his claims. http://dlvr.it/T8WWn0 #LegalUpdate #Law #Cheque #LegalPresumption #Debt

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