Cheque issue business - Genuineness of activity - onus to prove ...

Case Laws Income Tax

July 29, 2022

Cheque issue business - Genuineness of activity - onus to prove in case of No-account case - money laundering and financial accommodation business - In fact, the AO correctly observes that even in a ‘no accounts’ case, the assessee is supposed to furnish evidences in support of his claim/s. A finding of fact by the assessing or an appellate authority could, after all, only be on the basis of material on record - AT

View Source

← Previous Next →

Cheque issue business - Genuineness of activity - onus to prove ...

Case Laws Income Tax

July 29, 2022

You may also like:

Dishonor of cheque - presumption that cheque was issued in discharge of legal liability, burden on accused to prove contrary. Supreme Court observations: While deciding...

RBI circulars on various issues relating to money laundering activities and issues relating to FII

Dishonor of cheque due to account freeze falls within the purview of Section 138 of the Negotiable Instruments Act. The test is whether the account had insufficient...

In a case concerning unexplained credit u/s 68, the assessee proved the identity and genuineness of share applicants, although their creditworthiness was questioned. The...

Dishonor of Cheque - drawer of cheque - Vicarious liability - From the bare reading of Section 138 of the N.I. Act, it transpires that the liability of the drawer of the...

Dishonor of Cheque - Insufficient Funds - case of appellant is that the alleged cheques were never issued by the petitioner for any legally enforcible debt - The offence...

The onus is upon the assessee to establish that the money was borrowed for the purpose of business - assessee failed to prove the onus - Claim of Interest disallowed - AT

The court held that once a Magistrate takes cognizance and issues process against the accused, there is no provision in the Code of Criminal Procedure to allow the...

Dishonour of Cheque - discharge of legal liability or cheque issued towards the security - it was duly proved that the cheque was issued in discharge of the legal...

Addition of aggregate of cash as well as cheque deposit in the bank account of assessee - the assessee was doing some business activity, though it was not disclosed to...

Unexplained cash credits u/s 68 were added due to assessee's failure to discharge onus regarding bogus share capital including premium receipts. Despite filing...

Dishonor of Cheque - petitioner has issued stop payment instructions to the banker - Once it was held that the cheque pertains to the account of the petitioner and that...

Remittance from outside India - revenue v/s capital receipt - onus to prove - assessee could not discharge his onus and could not prove that the money has come out of...

Dishonor of cheque case - Issuance of summons - Cheque furnished as security covered u/s 138 of NI Act or not? - Scope and limited jurisdiction of High Court u/s 482...

In a case concerning dishonor of cheques u/s 138 of the Negotiable Instruments Act, the Court upheld the conviction and sentence. The accused admitted issuing cheques...

Quick Updates: