Question before the Court was  whether in case a transaction  was not shown in the books of account and/or the Income-tax returns of the holder of the cheque in due course and/or  was in violation of the provisions of 269SS of the Income-tax Act, 1961 was a “legally enforceable debt” and could be permitted to be enforced by institution of proceedings under section 138 of the Negotiable Instruments Act, 1881.Court held that    a transaction not shown in the books of account or in the Income-tax return of the holder of the cheque in due course could be permitted to be enforced by instituting proceedings under section 138 of the Act of 1881 in view of the presumption under section 139 of the Act of 1881 that such cheque was issued by the drawer for the discharge of any debt or other liability and execution of the cheque having been admitted. Violation of section 269SS or section 271AAD of the Act of 1961 would not render the transaction unenforceable under section 138 of the Act of 1881.