seema sharma ( manager) 25 August 2012

Receipt cancellation rules as per accounting

sir,

my client have issued receipt of Rs.15000 to a person for a financial concern. but that receipt got cancelled within 10 minutes as after going outside the receipt holder came again and requested to refund the amount due to some urgency in family.

my client at that time cancelled that receipt and paid the amount.

now that person is defaulter in loan and we filed a case of s.138 against him. In the court he is showing photocopy of that receipt and saying that we had not deducted that amount in his account.

truth is that he had got cancelled his receipt and now want to make use of that photocopy.

is it make any sense in the court.

whwther the photocopy can affect us in any way.

original receipt with carbon copy is with us.

what are the suggestions for me .

pls guide me as I am new.

thanx in advance for sparing your time .

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3 Replies

surjit singh (Assistant) 26 August 2012

First of all insist the person to produce the original receipt before the court, if he says it is lost, ask him whether the information about the loss of the receipt was made before any police station if so on which date.

On the other hand you have to see whether you have obtained his signature on the cancelled receipt at the time of refund of the money or anywhere concerning the refund, if so you have a good case.

seema sharma ( manager) 27 August 2012

we have not taken any signature of him when refunding the amount.whether it is must to take signature.

when we go and buy something and the cashier cancels a receipt for any reason, never did any sign anywhere till date.

surjit singh (Assistant) 27 August 2012

It a common sense that when you cancel a receipt either you take back the original receipt or you get the signature of the person on the cancelled receipt. If that is not done and the person against whom you are claiming is not admitting then I am afraid you will have to bear the cost.