Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
CIRP - waterfall mechanism - extinguishment of demand of the State Tax Authorities - The Patna High Court ruled in favor of the petitioner, holding that the tax demands for the assessment years 2020-21 and 2022-23 stood extinguished as they were not included in the resolution plan approved by the NCLT. The court emphasized the binding nature of the resolution plan on all stakeholders, including the State Government, and reiterated the principle that claims not lodged during the CIRP process cannot be enforced later.
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TaxTMI 
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