International transaction characterisation of domestic divestment of support services business rejected; transaction between resident associated enter...
Minimum Import Price restrictions for Black Pepper, Areca-nuts and Apples upheld; procedural laying failure not fatal, notifications to be placed befo...
Transaction value between related persons requires market-equivalent pricing; importer must prove declared value mirrors ordinary international trade ...
Classification of exported insecticides under export tariff affirmed; reclassification and related penalties set aside and MEIS scrip jurisdiction rec...
Written acknowledgment of a subsisting debt before expiry of limitation can extend time under Section 18 of the Limitation Act, and such acknowledgment by the principal borrower may bind a personal guarantor because of co-extensive liability. A communication marked "without prejudice" does not lose evidentiary value if, read as a whole, it clearly records repayment, restructuring, or continuation of settlement discussions and amounts to an unequivocal admission of liability. An irrevocable and unconditional personal guarantee cannot be unilaterally revoked by later notice, and a release plea fails where the alleged release document is not properly brought on record.
Written acknowledgment of a subsisting debt before expiry of limitation can extend time under Section 18 of the Limitation Act, and such acknowledgment by the principal borrower may bind a personal guarantor because of co-extensive liability. A communication marked "without prejudice" does not lose evidentiary value if, read as a whole, it clearly records repayment, restructuring, or continuation of settlement discussions and amounts to an unequivocal admission of liability. An irrevocable and unconditional personal guarantee cannot be unilaterally revoked by later notice, and a release plea fails where the alleged release document is not properly brought on record.
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