Failure to disclose the amount in Income Tax Return may be sufficient to rebut the presumption under Section 139 NI Act: High Court of Telengana.

The Court further observed that in the instant case the amount spent by the complainant was not shown in his income tax returns and the trial Court has rightly held that it creates a doubt regarding the financial position of the appellant and if he really spent that much amount, there must be record for him for withdrawal of amount from his bank account and spending the same.

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Read more about the article Joint complaint against an accused not maintainable under Section 138 N.I. Act: J&K High Court
Source: JK Legal Forum

Joint complaint against an accused not maintainable under Section 138 N.I. Act: J&K High Court

The Court held that the joint complaint filed by the respondents is not completely vitiated in law and, therefore, the complaint, which is still pending adjudication before the trial court, can still continue for and on behalf of one of the two complainants and the other complainant can be asked to chose his remedy separately as may be permissible in law.

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