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...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
Insolvency and BankruptcyJanuary 11, 2024Case LawsAT
CIRP - rejection of the claim of the appellant - fraud committed by corporate debtor while executing the "deed of assignment" - The word ‘automatically’ itself empowers the Appellant to put up the claim, declaring that the assignment agreement has been violated by the Appellant by making a false representation that their receivables were not encumbered or charged. The Corporate Debtor has no doubt made the misrepresentation in the deed of assignment which has become evident from the letter of SBI dated 08.06.2017, therefore, finding recorded by the Adjudicating Authority that the termination of the assignment was not valid is neither here nor there. - The RP has committed an error in relying upon Section 21 of the Act, 1996. - AT
CIRP - rejection of the claim of the appellant - fraud committed by corporate debtor while executing the "deed of assignment" - The word ‘automatically’ itself empowers the Appellant to put up the claim, declaring that the assignment agreement has been violated by the Appellant by making a false representation that their receivables were not encumbered or charged. The Corporate Debtor has no doubt made the misrepresentation in the deed of assignment which has become evident from the letter of SBI dated 08.06.2017, therefore, finding recorded by the Adjudicating Authority that the termination of the assignment was not valid is neither here nor there. - The RP has committed an error in relying upon Section 21 of the Act, 1996. - AT
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