Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Demand of KGST when the resolution plan was approved - Jurisdiction and applicability of the Insolvency and Bankruptcy Code (IBC) over statutory dues. The court referenced the Supreme Court's ruling in Ghanasyam Mishra that all claims not part of the resolution plan stand extinguished upon its approval. However, the court also acknowledged the Rainbow Papers judgment, which emphasized that a resolution plan must comply with statutory provisions and cannot ignore statutory dues. The court found that the assessment order did not examine whether the resolution plan met the requirements of Section 30(2) of the IBC.
Demand of KGST when the resolution plan was approved - Jurisdiction and applicability of the Insolvency and Bankruptcy Code (IBC) over statutory dues. The court referenced the Supreme Court's ruling in Ghanasyam Mishra that all claims not part of the resolution plan stand extinguished upon its approval. However, the court also acknowledged the Rainbow Papers judgment, which emphasized that a resolution plan must comply with statutory provisions and cannot ignore statutory dues. The court found that the assessment order did not examine whether the resolution plan met the requirements of Section 30(2) of the IBC.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
