Interest on Wrongful Input Tax Credit is mandatory where excess transitional credit was retained and later reversed, and related objections were rejec...
Reopening Assessments invalid where satisfaction and jurisdictional approval are absent for third party seized material, leading to quashing of assess...
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During CIRP, moratorium protection under the Insolvency Code preserves the corporate debtor's possession and status quo, preventing lease termination, re-entry and eviction that would recover property from the debtor. The High Court construed Section 14 broadly to cover statutory eviction proceedings as well as civil suits, and treated the explanation to Section 14(1) as clarificatory rather than an exception permitting breach-based action. It further held that any inconsistency between the Public Premises Act and the insolvency regime was resolved by Section 238 in favour of the Code. On that basis, the lease termination and eviction orders were quashed and the appeal was dismissed.
During CIRP, moratorium protection under the Insolvency Code preserves the corporate debtor's possession and status quo, preventing lease termination, re-entry and eviction that would recover property from the debtor. The High Court construed Section 14 broadly to cover statutory eviction proceedings as well as civil suits, and treated the explanation to Section 14(1) as clarificatory rather than an exception permitting breach-based action. It further held that any inconsistency between the Public Premises Act and the insolvency regime was resolved by Section 238 in favour of the Code. On that basis, the lease termination and eviction orders were quashed and the appeal was dismissed.
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