https://www.taxtmi.com/caselaws?id=462736 A summary suit under Order XXXVII can proceed on a written Cancellation Deed acknowledging liability to refund principal with interest, and a ledger entry does not alter that contractual basis. Deduction and deposit of TDS may count as payment on account of debt for limitation purposes under Section 19 of the Limitation Act, with a fresh limitation period running from that date. Compound interest at 24% was not shown to arise because the deed contained no express stipulation for compounding. The defendant's plea of adjustment and set-off, supported by surrounding conduct and related proceedings, raised a substantial defence and triable issues, so unconditional leave to defend was granted. en-us Wed, 26 Apr 2023 00:00:00 +0530 Fri, 11 Jul 2025 20:28:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462736 A summary suit under Order XXXVII can proceed on a written Cancellation Deed acknowledging liability to refund principal with interest, and a ledger entry does not alter that contractual basis. Deduction and deposit of TDS may count as payment on account of debt for limitation purposes under Section 19 of the Limitation Act, with a fresh limitation period running from that date. Compound interest at 24% was not shown to arise because the deed contained no express stipulation for compounding. The defendant's plea of adjustment and set-off, supported by surrounding conduct and related proceedings, raised a substantial defence and triable issues, so unconditional leave to defend was granted. Case-Laws Indian Laws Wed, 26 Apr 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462736