Cc No. 515497/2016 Anil Verma vs Manoj Verma Page 1 Of 26 on 27 February, 2021
33. It cannot be said that that mere fact that the loan has been advanced
in cash or that when it is not reflected in the ITR of the Complainant,
the said facts would ipso facto cast aspersions on the case of the
Complainant. The Income Tax Act is a distinct statute and the
assessee will be liable to the consequences therein, as that matter is
between the revenue and the assessee. However, it cannot be said
that the prosecution u/s 138 of the NI Act in respect of the said loan
would become non-maintainable. Reliance is placed on Sheela
Sharma Vs. Mahendra Pal Crl.L.P No. 559/2015 (DelHC) and
Amar Kumar Agarwal Vs. Ramesh Singh, CRA. No. 766/2017
(ChattisgarhHC).