Deducting TDS does not amount to acknowledgement of Debt – Anil Kumar Sharma Vs. Ridhiraj Builders and Promoters LLP – NCLT Jaipur Bench
NCLT held that it has been held time and again in judgments that deducting TDS does not amount to acknowledgement of Debt. TDS can be deducted for various reasons and mere payment of TDS towards interest payable does not amount to acknowledgement of debt. The same cannot be treated as an acknowledgement of debt, more so a default of the alleged loan.
