https://www.taxtmi.com/caselaws?id=431778 A company struck off for failure to file annual returns and financial statements may be restored where contemporaneous records show subsisting assets and ongoing business activity. Sale deeds standing in the company's name, audited balance sheets for relevant years, and later income tax returns supported the conclusion that the company was not defunct. Mere filing defaults, without more, were insufficient to sustain striking off when the company's existence and business purpose were established. The restoration order was therefore made sustainable, subject to compliance requirements and costs. en-us Tue, 20 Dec 2022 00:00:00 +0530 Wed, 21 Dec 2022 14:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431778 A company struck off for failure to file annual returns and financial statements may be restored where contemporaneous records show subsisting assets and ongoing business activity. Sale deeds standing in the company's name, audited balance sheets for relevant years, and later income tax returns supported the conclusion that the company was not defunct. Mere filing defaults, without more, were insufficient to sustain striking off when the company's existence and business purpose were established. The restoration order was therefore made sustainable, subject to compliance requirements and costs. Case-Laws Companies Law Tue, 20 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431778