Authentication of paper assessment orders upheld, while qualifying repairs, consumables and vendor advance write-offs remain deductible business claim...
Transaction value cannot be rejected solely on non-statutory valuation guidelines without corroborative evidence supporting reassessment of final cust...
Cross-examination rights and corroborated evidence limit customs penalties for misdeclaration in genuine import transactions involving documented clea...
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The case involved a dispute regarding the adjustment of an income tax refund with outstanding liability after the CIRP timeline had expired and a liquidation order was passed. The Appellate Tribunal held that the moratorium u/s 14 of IBC continues even after the CIRP period ends, and creditors cannot exercise set-off during this period. The Respondent was found liable to refund the amount set off against tax dues as it violated the moratorium. The Tribunal ordered the Respondent to refund the adjusted amount to the Corporate Debtor within two weeks. The judgment emphasized that set-off during CIRP is against IBC principles.
The case involved a dispute regarding the adjustment of an income tax refund with outstanding liability after the CIRP timeline had expired and a liquidation order was passed. The Appellate Tribunal held that the moratorium u/s 14 of IBC continues even after the CIRP period ends, and creditors cannot exercise set-off during this period. The Respondent was found liable to refund the amount set off against tax dues as it violated the moratorium. The Tribunal ordered the Respondent to refund the adjusted amount to the Corporate Debtor within two weeks. The judgment emphasized that set-off during CIRP is against IBC principles.
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