Non-Filing of I-T Returns not necessarily mean no source of Income

Shrimati Ragini Gupta Vs. Piyush Dutt Sharma (Madhya Pradesh High Court) In absence of satisfactory explanation it can be presumed that cheque was issued in discharge of the legally recoverable debt. Conclusion – Where the accused has failed to satisfactorily explain the circumstances under which the cheque was issued by the accused or misused by the complainant, then it can be safely inferred/ presumed that the cheque was issued in discharge of legally recoverable debt/liability. Facts – Respondent had filed complain against revisionist u/s 138 of NI, Act on the allegation that in the mon...