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V.G.Rao Advocate (Advocate)     14 July 2011

138 N.I Act

Hi all,

This  is a case u/sec 138 of Ni act, wherein complainant had lent a sum of Rs. exceeding 25 lak to accused, and had executed a promissory note and receipt, after appearance the accused made part payment, and not denied execution of pro note, and however he is contesting the case, and during cross of the complainant he stated that he is an In come tax assesse and he had not shown the transaction under the case in IT Returns, a

My question is

Whether the non dislcoure of huge amount transaction in IT returns is fatal to the complainant's case? if yes please provide me with a case law.


 4 Replies

Raghav Sood (Lawyer)     14 July 2011

their are citations for both sides

DEFENSE ADVOCATE.-firmaction@g (POWER OF DEFENSE IS IMMENSE )     14 July 2011

no citations for both sides, pl check. Liabilities has to be legal. Black money transections can not be claimed through legal process. Courts  and law are clear in this matter.

Raghav Sood (Lawyer)     14 July 2011

2008 (3) CCC 380 for non disclosure of IT return

Mudduraj C (LAW PROFESSIONAL)     14 July 2011



In this caser that person shall be only penalised by the income tax authorities with a penaqlty equalent to the loan amount by the income tax authorities and also taxes and applicable penalties shall be charged if it is a cash transaction and if the same is a cheque transaction, it shall be liable for the same consequences for not disclosing the same with tax and penalties. 


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