Valuable Security
Legal definition for Indian law research
Definition
Valuable security, certificates the appellant has been found to have forged to get admission in the Arts and Commerce College affiliated to Poona Univer-sity could not be described as 'valuable security' within the meaning of s. 30 of the Indian Penal Code, Shaikh Noor Mohd. Shaikh Fazal v. State of Maharashtra, (1980) 4 SCC 551: AIR 1981 SC 297 (298). [Penal Code (45 of 1860), ss. 30, 465, 467, 471]
The words 'valuable security' denote a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, or whereby any person acknowledges that he lies under legal liability, or has not a certain legal right, see also. [Dowry Prohibition Act, 1961 (28 of 1961), s. 2, Expl. II; (English) Penal Code, 1860, s. 30]
The assessment order is certainly a 'document', under s. 29, IPC. The order of assessment does create a right, in the assessee, in the sense that he has a right to pay tax only on the total amount assessed therein and his liability to pay tax is also restricted to that extent. Therefore an 'order' of assessment' is a 'valuable security' under s. 420, IPC. Therefore, if the cheating, employed by the accused, resulted in inducting the Income-tax Officer to make a wrong assessment order, it would amount to inducing the Income-tax Officer, to make a 'valuable security', Ishwarlal Girdharilal Parekh v. State of Maharashtra, AIR 1969 SC 40 (43): (1969) 1 SCR 193. [Indian Penal Code, ss. 420, 29 and 30]
The words 'valuable security' denote a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, or whereby any person acknowledges that he lies under legal liability, or has not a certain legal right. (Penal Code, 1860 s. 30)
The words 'valuable security' denote a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, or whereby any person acknowledges that he lies under legal liability, or has not a certain legal right, see also. [Dowry Prohibition Act, 1961 (28 of 1961), s. 2, Expl. II; (English) Penal Code, 1860, s. 30]
The assessment order is certainly a 'document', under s. 29, IPC. The order of assessment does create a right, in the assessee, in the sense that he has a right to pay tax only on the total amount assessed therein and his liability to pay tax is also restricted to that extent. Therefore an 'order' of assessment' is a 'valuable security' under s. 420, IPC. Therefore, if the cheating, employed by the accused, resulted in inducting the Income-tax Officer to make a wrong assessment order, it would amount to inducing the Income-tax Officer, to make a 'valuable security', Ishwarlal Girdharilal Parekh v. State of Maharashtra, AIR 1969 SC 40 (43): (1969) 1 SCR 193. [Indian Penal Code, ss. 420, 29 and 30]
The words 'valuable security' denote a document which is, or purports to be, a document whereby any legal right is created, extended, transferred, restricted, extinguished or released, or whereby any person acknowledges that he lies under legal liability, or has not a certain legal right. (Penal Code, 1860 s. 30)
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.