false case of cheque bounce
anonym
(Querist) 26 July 2011
This query is : Resolved
I have been framed in a case of 138NI(cheque boucing).
The complainant claims to have given me a loan of Rs 28 Lakhs in cash(14 in one year and 14 in next yr) against which they say I paid them an interest of 3% per month for one year. They have shown in complaint that the money given was for earning income. In first time they are not showing the source of Rs 14 Lakhs in cash. In second time they claimed to have sold off her jewellery and procure Rs 14 Lakhs and given me.
The period they are talking ins 2006-07
Fact: No transaction of that sort happened. They are not of that level to possess even Rs 2800/- leave aside Rs 28Lakhs in cash. they have not filed any income tax return for last several years.
My Question: How can I use their statement against them. How can I take help from IT dept. What would be penalty/consequences of evading tax on Rs 28 Lakhs for 6 years?
What would be the amount of penalty be?
jatin sharma
(Expert) 26 July 2011
hi, your query is not clear. so as your Q i suggest you, engage a advocate to defend your self and the Q of 28 lakhs rs which is not shows by him in income tax it will be resolve in side of you in cross examination. which will be better do your advocate.
Advocate Rajkumarlaxman
(Expert) 26 July 2011
See cheque bounce is not an offence. If they claim after 3years then the case doesnt survive. if after bouncing of cheque within 15 days they have issued notice to you and fater 30 days have the filed the case. what is the exact position of facts. let us know. and as far as income tax dept is concerned about rs.28 laks. you can proceed against him and under RTI find out his soucre of income if you doubt that he/she does not possess that capacity.
DEFENSE ADVOCATE.-firmaction@g
(Expert) 26 July 2011
now period of limitation has been changed , pl note :-
"within thirty days"] of the receipt of information by him from the
bank regarding the return of the cheques as unpaid, and
ubstituted by Act 55 of 2002, sec. 7, for "within Fifteen days"
(w.e.f. 6-2-2003).
R.Ramachandran
(Expert) 26 July 2011
Dear Anonymous,
Have you issued any cheque? If so for what amount? What for did you issue the cheque? Whether the cheque got bounced? If so for what reason?
Did you issue cheques in the past periodically (as was being claimed by the complainant that they are towards interest)? If so what does those payment according to you represent?
All other things are secondary and separate action.
anonym
(Querist) 26 July 2011
They were very close friend of mine I know from last 20 years. Like a family. In their bad times I helped them financially as they were in very bad shape. At one time the did not even have money to pay their grocery bills. During such times they had to borrow money from a third party and they did that against me as security. During the course 3 signed blank cheques were in their possesion which THEY HAVE MISUED against me. Their intention was to get some money from me as there are under heavy debt.
ALL THESE TRANSACTIONS THEY SAY WERE DONE IN CASH. BUT ACTUALLY THERE WAS NO MONETARY TRANSACTION DONE BETWEEN US-NEITHER THE LOAN NOR ANY INTEREST PAID.
I got info from IT Dept unofficially. They have filed returns for only two years 04-05 for 82K and 05-06 for Rs 1.25 Lakhs ONLY. Since 2006 they have not filed Income tax at all.
My advocate is saying that if I goto IT Dept, officially, it might alert the complainant. He says instead- I should use the unofficial copy in court and ask the judje to get it verified officially.
My Q is: Will their unofficial IT return copy be accepted in court?
IF THEY PAY THE INCOME TAX ON RS28LAKHS(CASH) SINCE 2006 TILL DATE WITH INTEREST-WHAT WILL THAT AMOUNT BE? CAN THEY GET AWAY AFTER THAT??
