STARTUP LEGAL2 Sept 2026
Post Office Liable for Cheque Deposits, Not Cash Handed to Agent
People who invested in Post Office schemes after a postal agent cheated them got only partial relief. The consumer commissions held the Post Office liable for cheque deposits of Rs 3,00,000 made twice, totalling Rs 6,00,000. Cash of Rs 10,50,000 handed to the agent was not counted because it was unproved. The Post Office's challenge against this order was dismissed.
Key Statutory Highlights
- Two cheque deposits of Rs 3,00,000 each were accepted as proved, so Rs 6,00,000 was held recoverable.
- Cash of Rs 10,50,000 allegedly given to the postal agent was disbelieved and excluded from the Post Office's liability.
- The revisional commission found no material irregularity and dismissed the Post Office's challenge.
Actionable Advice for Taxpayers / Founders:If you invest through a post office agent, pay by cheque or bank transfer, get an official receipt or passbook entry, and keep copies. Never hand over large cash to an agent without documented proof.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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