TaxTMI 
TaxTMI 
2013 (4) TMI 414
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....ys. The petitioner refers to an admission contained in a letter dated January 5, 2011 where the company had admitted to the railway board that the company owed an amount of Rs. 26,08.858/- to the petitioner. The petitioner says that there can be no dispute as to such part of the claim. The petitioner also relies on invoices and other material in support of the balance principal claim of the petiti....
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.... Foundry Works Limited are part of the same group of companies, unless there was an express agreement between the parties that the dues of the petitioner's group on the one hand had to be seen collectively against the dues of the company, the company's claim against the petitioner's associate concern cannot be set off against the petitioner's claim against the company. 4. It, however, appears fro....
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....e petitioner's associate concern in the sum of Rs. 22,80,646.05. Even if the letter is taken on face value and the veracity of the assertions therein are not questioned, it appears that there is an unequivocal admission by the company of it being indebted to the petitioner in the sum of Rs. 3,28,211.95 if the two figures of Rs. 26,08,858/- and Rs. 22,80,646.05 are reconciled. It is the same sentim....