Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Insolvency and BankruptcyAugust 24, 2020Case LawsAT
Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after the expiry of period of limitation - It cannot be gain said that ‘Acknowledgment of Liability’ is to be in writing, signed by a person against whom the property or right is claimed and the same must be within the period of Limitation. Suffice it for this Tribunal to relevantly point out that to bring an acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, it ought to be an unqualified one which gives a fresh cause of action - AT
Initiation of CIRP - Effect of an ‘Acknowledgment’ of dues after the expiry of period of limitation - It cannot be gain said that ‘Acknowledgment of Liability’ is to be in writing, signed by a person against whom the property or right is claimed and the same must be within the period of Limitation. Suffice it for this Tribunal to relevantly point out that to bring an acknowledgment within the meaning of Section 18 of the Limitation Act, 1963, it ought to be an unqualified one which gives a fresh cause of action - AT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
