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2010 (7) TMI 134 - DELHI HIGH COURTUndercharged Liabilities – failure to get confirmation – brought forward of sundry creditors – deemed income u/s 41(1) – applicability of period of limitation – Held that: - The principle that expiry of period of limitation prescribed under the Limitation Act could not extinguish the debt but it would only prevent the creditor from enforcing the debt, has been well settled. If that principle is applied, it is clear that mere entry in the books of account of the debtor made unilaterally without any act on the part of the creditor will not enable the debtor to say that the liability has come to an end. Apart from that, that will not by itself confer any benefit on the debtor as contemplated by the section - Section 41(1) of Act, 1961 was not attracted as there was neither remission nor cessation of liability in the present case.
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