https://www.taxtmi.com/caselaws?id=408221 Deduction of TDS and mere reflection of a liability in ledger accounts do not, by themselves, amount to acknowledgement of debt for extending limitation under Section 18 of the Limitation Act, 1963. Statutory filings such as balance sheets and annual returns, being mandatory and penalised for non-compliance, were also noted not to constitute acknowledgement. As the last payment and part payment were made in March and April 2017 and the Section 7 application was filed on 04.02.2021, the claim fell beyond the three-year period under Article 137 and was held barred by limitation. en-us Wed, 10 Mar 2021 00:00:00 +0530 Fri, 04 Jun 2021 08:24:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=408221 Deduction of TDS and mere reflection of a liability in ledger accounts do not, by themselves, amount to acknowledgement of debt for extending limitation under Section 18 of the Limitation Act, 1963. Statutory filings such as balance sheets and annual returns, being mandatory and penalised for non-compliance, were also noted not to constitute acknowledgement. As the last payment and part payment were made in March and April 2017 and the Section 7 application was filed on 04.02.2021, the claim fell beyond the three-year period under Article 137 and was held barred by limitation. Case-Laws Insolvency and Bankruptcy Wed, 10 Mar 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=408221