TMI BlogDishonor of Cheque - section 138 of NI Act - enforceable debt or not - Section 269SS of the Income Tax...Dishonor of Cheque - section 138 of NI Act - enforceable debt or not - Section 269SS of the Income Tax Act, 1961 prohibits making of any payment in cash above a sum of ₹20,000/-. Thus, any person violating the same would attract imposition of penalties under the said Act. However, the same does not render the said debt un-enforceable or precludes the lender from recovering the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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