TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Highlights
of of All Highlights
Note
Bookmark
Share
Don't have an account? Register Here
of NCLAT dismissed the appeal and upheld admission of the Section 7 application. The Tribunal found sufficient evidence that the sum of Rs. 50,00,000 constituted a financial debt advanced for time value of money, supported by TDS entries, 26AS records, matching ledger entries and acknowledgment in the CD's balance sheet dated 31.03.2017. The adjudicating authority correctly held that the first demand arose 04.04.2016, and the balance-sheet acknowledgment within the limitation period extended limitation under Section 18 of the Limitation Act, permitting filing within time. A written agreement was not prerequisite; documentary evidence established debt and default. The appeal lacked merit and was dismissed.
TaxTMI 
TaxTMI 
