Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
Vicarious liability for dishonoured company cheques may extend to non-signatory directors where complaints contain foundational responsibility avermen...
Insolvency and BankruptcyFebruary 7, 2024Case LawsHC
Jurisdiction - power of NCLT to declare the VAT / Tax assessment order as void ab initio under Section 33(5) of IBC - In view the judgement of the Supreme Court, the High Court held that, U/s 238, the provisions of IBC have an overriding effect on any other law for the time being in force or any instrument having effect by virtue of any law. After declaring the moratorium, there is an embargo on enforcing the demand, but there is no embargo u/s 14, r.w.s 33(5) of the IBC, for determining the quantum of tax and other levies, if any, against the Corporate Debtor. The Order shows the lack of basic understanding of the law.
Jurisdiction - power of NCLT to declare the VAT / Tax assessment order as void ab initio under Section 33(5) of IBC - In view the judgement of the Supreme Court, the High Court held that, U/s 238, the provisions of IBC have an overriding effect on any other law for the time being in force or any instrument having effect by virtue of any law. After declaring the moratorium, there is an embargo on enforcing the demand, but there is no embargo u/s 14, r.w.s 33(5) of the IBC, for determining the quantum of tax and other levies, if any, against the Corporate Debtor. The Order shows the lack of basic understanding of the law.
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