Effective hearing in GST adjudication requires actual opportunity to respond; ineffective service through a former auditor invalidated ex parte procee...
Third-party search material requires special assessment route, rendering general reassessment notices without jurisdiction when it forms the proceedin...
Transfer-pricing adjustments must be confined to international associated-enterprise transactions, while functionally dissimilar comparables remain ex...
Insolvency moratorium bars income-tax revision proceedings against corporate debtors until the moratorium ends, preserving merits for later determinat...
Arbitration clauses do not bar an operational creditor from pursuing the statutory insolvency remedy, even where arbitration is available or has been initiated, provided debt and default are established. A settlement amount arising from disputes connected with the supply of raw cotton constitutes operational debt because it is a claim in respect of goods; the claimant is therefore an operational creditor. A damages claim raised only in reply to the demand notice, without prior genuine adjudicatory or arbitral pursuit and supported only by limited correspondence, is not a pre-existing dispute. The rejection of the operational debt application was quashed, and admission and further proceedings were directed in accordance with law, including moratorium.
Arbitration clauses do not bar an operational creditor from pursuing the statutory insolvency remedy, even where arbitration is available or has been initiated, provided debt and default are established. A settlement amount arising from disputes connected with the supply of raw cotton constitutes operational debt because it is a claim in respect of goods; the claimant is therefore an operational creditor. A damages claim raised only in reply to the demand notice, without prior genuine adjudicatory or arbitral pursuit and supported only by limited correspondence, is not a pre-existing dispute. The rejection of the operational debt application was quashed, and admission and further proceedings were directed in accordance with law, including moratorium.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4891 
