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2018 (3) TMI 314 - HC - Indian LawsDefault in repayment of loan - suit for recovery - plaintiff’s case is that he had given a loan of ₹ 3 lakhs to the Defendant, in cash, on 1st April, 2008 which not in accordance with income tax act, hence loan amount cannot be recognized - Held that:- The categorical admission of the Defendant and the lack of any evidence to support the case of the Defendant, clearly lead to the conclusion that the Trial Court was in error in holding that the Plaintiff has not discharged his onus in proving that the loan was taken. The Receipt dated 4th September, 2008 exists and the Defendant does not deny his signatures on the same. The Plaintiff is thus entitled to a decree in his favour. The Trial Court judgment is accordingly set aside and the suit is decreed for a sum of ₹ 3 lakhs with interest @ 6% per month from the date of filing of the suit till the date of payment.
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