https://www.taxtmi.com/caselaws?id=244232 Issuance of Form C under the Central Sales Tax regime did not amount to an acknowledgment of a subsisting liability under Section 18 of the Limitation Act, because it merely evidenced the sale transaction and receipt of goods at an agreed price, without admitting a present debtor-creditor relationship. The Court held that Section 18 requires acknowledgment of current liability, not proof of past dealings, so limitation was not extended. The winding up petition also failed because the petitioner had suppressed a settlement agreement under which part-payment had been made, and the remaining dispute over retained dues raised factual issues unsuitable for winding up proceedings. en-us Wed, 22 Jan 2014 00:00:00 +0530 Wed, 08 Oct 2014 12:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244232 Issuance of Form C under the Central Sales Tax regime did not amount to an acknowledgment of a subsisting liability under Section 18 of the Limitation Act, because it merely evidenced the sale transaction and receipt of goods at an agreed price, without admitting a present debtor-creditor relationship. The Court held that Section 18 requires acknowledgment of current liability, not proof of past dealings, so limitation was not extended. The winding up petition also failed because the petitioner had suppressed a settlement agreement under which part-payment had been made, and the remaining dispute over retained dues raised factual issues unsuitable for winding up proceedings. Case-Laws Companies Law Wed, 22 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244232