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2015 (3) TMI 685 - HIGH COURT OF DELHIPetition for winding up under Section 433(e) and 434 of the Companies Act - Amount not paid but reflected on income tax website under 26AS - Petition filed after a gap of 2 years - Held that:- In my view, the respondent company has raised factual disputes that would require examination and there is no clear admission on the part of the respondent company of the amount claimed by the petitioner. The mere fact that income tax was deposited with the tax authorities for a payment that was proposed to be made to the petitioner prior to the discovery of the alleged manipulation done by the petitioner would not amount to a clear admission of debt on part of the respondent. It is the settled position of law that where a bonafide defence is raised in the winding up petition that merits an examination, a Company Court has to direct the petitioner to prove its claim in a civil suit. The entry with respect to the said tax to the credit of the petitioner in the form 26-AS would have been reflected by the Income Tax Authorities in the year 2010 itself. No plausible explanation is averred in the petition as to how the petitioner missed this type of entry for a period of over two years. - Winding up petition dismissed.
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