https://www.taxtmi.com/caselaws?id=294508 The court held that the balance sheet and profit and loss account operated as an acknowledgment of liability, satisfying the requirements under Section 18 of the Limitation Act. The suit was found to be within the limitation period, as the acknowledgment was considered effective as of the date of signing the documents. The defendant's plea of discharge was not substantiated due to insufficient evidence and discrepancies in the documentation. The court set aside the previous judgment, remanding the suit solely for consideration of the discharge plea, with directions for expedited proceedings. en-us Fri, 18 Aug 2017 00:00:00 +0530 Sun, 18 Apr 2021 20:51:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294508 The court held that the balance sheet and profit and loss account operated as an acknowledgment of liability, satisfying the requirements under Section 18 of the Limitation Act. The suit was found to be within the limitation period, as the acknowledgment was considered effective as of the date of signing the documents. The defendant's plea of discharge was not substantiated due to insufficient evidence and discrepancies in the documentation. The court set aside the previous judgment, remanding the suit solely for consideration of the discharge plea, with directions for expedited proceedings. Case-Laws Companies Law Fri, 18 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294508