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2012 (6) TMI 862 - HC - Indian LawsAppellant under Section 138 of Negotiable Instruments Act - Held that:- It is admitted that the appellant is income tax assessee. It is his evidence that he has included the loan in his income tax account. In this context, in the absence of production of income tax returns, it is to be held that the loan transaction should not have been shown in the account. As per the settled position of law, when the income tax assessee fails to produce income tax returns containing the loan transaction, it should have been observed that the alleged loan transaction is a an illegal one. Further, he has not disputed the genuineness of Exs.D1 to D3 and the evidence of PW2 with regard to these documents. It is also in his evidence that he does not know whether the respondent signed the cheque in his presence and he does not know who filled up the cheque. This is a piece of evidence to infer that the loan transaction may not be true. This Court is of the considered view that the loan transaction, as pleaded by the appellant is not true. There is no infirmity factually in the judgment rendered by the trial court and it does not warrant any interference and the same deserves to be confirmed and it is accordingly confirmed. The appeal is devoid of merits.
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