Ker HC: Debt Created by Cash Above Rs.20,000 in Violation of IT Act Isn’t “Legally Enforceable Debt” - 28.07.2025

Kerala High Court has observed that debt created by a cash transaction above Rs.20,000/- in violation of the provisions of Income-Tax Act, 1961 is not a “legally enforceable debt” unless there is a valid explanation for the same.

Tags : Kerala High Court Cash Transaction Legally Enforceable Debt

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