Governmental authority status supports construction-service exemption, while pre-cutoff contract and stamp-duty compliance requires verification on re...
Automated Free Sale and Commerce Certificates enable paperless processing while retaining risk-based manual verification for selected exporter applica...
Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Insolvency and BankruptcySeptember 12, 2023Case LawsSCH
Interpretation of statute - Scope of the term "OR" - The word ‘or’ in the said sub-regulation should be read as ‘in addition to’ and not ‘to the exclusion of’. This means that the resolution professional may, if envisaged in the request of the resolution plan, can allow under the said sub-regulation, modification of the resolution plan received, albeit only once. - SC
Interpretation of statute - Scope of the term "OR" - The word ‘or’ in the said sub-regulation should be read as ‘in addition to’ and not ‘to the exclusion of’. This means that the resolution professional may, if envisaged in the request of the resolution plan, can allow under the said sub-regulation, modification of the resolution plan received, albeit only once. - SC
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