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...
Initiation of CIRP - Existence of a financial debt - Assignment of debt- The Appellate Tribunal (NCLAT) upheld the Adjudicating Authority’s findings, agreeing that: The evidence did not conclusively prove the existence of a financial debt as defined under the Insolvency and Bankruptcy Code (IBC). The assignment of alleged receivables to the Appellant did not convert them into a financial debt because the transfer was on an “as is where is” basis without warranties of their recoverability or acknowledgment as debt by the Respondent.
Initiation of CIRP - Existence of a financial debt - Assignment of debt- The Appellate Tribunal (NCLAT) upheld the Adjudicating Authority’s findings, agreeing that: The evidence did not conclusively prove the existence of a financial debt as defined under the Insolvency and Bankruptcy Code (IBC). The assignment of alleged receivables to the Appellant did not convert them into a financial debt because the transfer was on an “as is where is” basis without warranties of their recoverability or acknowledgment as debt by the Respondent.
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