https://www.taxtmi.com/highlights?id=99381 An admitted acknowledgment of liability can give rise to a fresh starting point of limitation, and the court-closure rule applies when the last day falls on a weekend and filing is made on the reopening day. The tribunal also clarified that the default-proof requirement is not confined to information-utility records: prima facie disclosure of debt and default may be shown through balance-sheet admissions and the debtor's written statement. A new limitation plea cannot be raised for the first time in written submissions after arguments, because written submissions are not pleadings. en-us Sat, 02 May 2026 07:40:45 +0530 Sat, 02 May 2026 07:40:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=99381 An admitted acknowledgment of liability can give rise to a fresh starting point of limitation, and the court-closure rule applies when the last day falls on a weekend and filing is made on the reopening day. The tribunal also clarified that the default-proof requirement is not confined to information-utility records: prima facie disclosure of debt and default may be shown through balance-sheet admissions and the debtor's written statement. A new limitation plea cannot be raised for the first time in written submissions after arguments, because written submissions are not pleadings. Highlights IBC Sat, 02 May 2026 07:40:45 +0530 https://www.taxtmi.com/highlights?id=99381