https://www.taxtmi.com/caselaws?id=163594 The court found that the issuance of forms C did not constitute an acknowledgment of liability to save the limitation period. However, the letter dated June 9, 2005, was deemed an implied promise to pay the amount due upon reconciliation of accounts, saving the limitation period under Section 25(3) of the Indian Contract Act. Consequently, the respondent company was ordered to pay Rs. 9,00,000 to the petitioner within twelve weeks, with the threat of the winding-up petition being admitted and advertised in case of non-compliance. en-us Thu, 02 Mar 2006 00:00:00 +0530 Sat, 05 Apr 2014 10:53:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=163594 The court found that the issuance of forms C did not constitute an acknowledgment of liability to save the limitation period. However, the letter dated June 9, 2005, was deemed an implied promise to pay the amount due upon reconciliation of accounts, saving the limitation period under Section 25(3) of the Indian Contract Act. Consequently, the respondent company was ordered to pay Rs. 9,00,000 to the petitioner within twelve weeks, with the threat of the winding-up petition being admitted and advertised in case of non-compliance. Case-Laws VAT and Sales Tax Thu, 02 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=163594