138 ni act

Querist : Anonymous (Querist) 27 December 2011 This query is : Resolved
Dear Sir,
I have lent Rs.100000/-(One Lakh) Cash to a customer & taken Signature on Promissory Note & Chq of Rs.(One Lakh).Now he has Defaulted.
I have filed Criminal Complaint U/s 138
I have shown cash entry on the above given date & Reflects in my IT returns.
My Question is
Whether Cash Payment of Rs.1 L would damage my case. I know that in excess of Rs.20000 cannot be paid in cash but Mistake it has happen. I have Evidence of Promissory note.
Please Provide Solution

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Advocate. Arunagiri (Expert) 27 December 2011
Cash payment will not affect your cheque bounce case.

More over only the borrower has to pay the penalty, if any, of accepting in cash. You need not worry about it.

Proceed in accordance with law.

Shonee Kapoor (Expert) 27 December 2011
Not in the instant case as the promissory note is there.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com

prabhakar singh (Expert) 28 December 2011
you need not worry for that as that shall not damage your case.

Guest (Expert) 28 December 2011
Agree with Shri Arunagiri.

Sailesh Kumar Shah (Expert) 28 December 2011
Here is violation of Section 269T of IT Act, which have no effect on NI Case.

Nadeem Qureshi (Expert) 28 December 2011
repeated query

Deepak Nair (Expert) 28 December 2011
Agree with the experts. This shall not affect your case.

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