Revisability of return invalidation communications under tax procedure affirmed, impugned non revisional finding quashed and matter remitted for fresh...
Transferable duty credit scrips validity and bona fide transferee entitlement to exemption upheld where scrips were subsisting at import, appeals allo...
Classification of knocked down motor vehicle component imports: Notification benefit denied because items are standalone non kit parts requiring subst...
A renewed challenge to the implementation of an approved resolution plan was barred by res judicata and constructive res judicata because the same issues had already been raised in earlier proceedings, the plan approval had attained finality, and prior appeals had failed. The NCLAT held that the appellant could not reopen its status or quantum of dues as a secured operational creditor by filing another appeal against the same common order, and its refusal to accept the plan amount was obstructing completion of the insolvency process. It also held that an approved resolution plan must be implemented unconditionally, so post-approval liabilities cannot be added or made contingent on further clarifications. The appeal and interlocutory application were dismissed, with directions for compliance.
A renewed challenge to the implementation of an approved resolution plan was barred by res judicata and constructive res judicata because the same issues had already been raised in earlier proceedings, the plan approval had attained finality, and prior appeals had failed. The NCLAT held that the appellant could not reopen its status or quantum of dues as a secured operational creditor by filing another appeal against the same common order, and its refusal to accept the plan amount was obstructing completion of the insolvency process. It also held that an approved resolution plan must be implemented unconditionally, so post-approval liabilities cannot be added or made contingent on further clarifications. The appeal and interlocutory application were dismissed, with directions for compliance.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
