Country of Origin Certificates and declared transaction value supported preferential customs exemption where authenticity and invoice prices remained ...
Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Insolvency and BankruptcyNovember 22, 2022Case LawsAT
Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as a liability in respect of a claim, and Section 3(6) of the Code defines term claim to mean a right to payment, whether or not such right has been reduced to judgement. Therefore, if the submission on behalf of the ‘Corporate Debtor’ is accepted, it would mean that a claim is excluded from being a financial debt even if reduced to Judgement by way of a recovery certificate. - AT
Initiation of CIRP - Decree Holder - Financial Creditor - the debt in this case arising out of a decree, is a Financial Debt. - Section 3(11) of the Code defines debt as a liability in respect of a claim, and Section 3(6) of the Code defines term claim to mean a right to payment, whether or not such right has been reduced to judgement. Therefore, if the submission on behalf of the ‘Corporate Debtor’ is accepted, it would mean that a claim is excluded from being a financial debt even if reduced to Judgement by way of a recovery certificate. - AT
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