Employee stock-shortage penalties do not constitute consideration for services, preventing GST collection under Schedule II in employment relationship...
Transfer-pricing treatment of ITeS margins excludes pass-through tax recoveries and separate delayed-receivables interest after working-capital adjust...
Capacity-utilisation adjustments under TNMM can neutralise substantiated COVID-related idle costs where underutilisation materially affects profitabil...
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The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP dues in 8 quarterly installments from June 2022 to March 2024. The Appellant claimed that payments made by the Corporate Debtor after CIRP commencement should be appropriated towards pre-CIRP dues instead of current CIRP costs. The NCLAT held that the resolution plan's schedule for payment of pre-CIRP dues was sacrosanct and cannot be superseded. Any payments made after CIRP commencement must be appropriated towards current CIRP dues, not pre-CIRP dues. The Appellant was entitled to payment of pre-CIRP dues only as per the approved resolution plan. The Adjudicating Authority's view that post-CIRP payments cannot be appropriated towards pre-CIRP dues was reasonable and upheld. The appeal was dismissed.
The Appellant sought payment of its pre-CIRP dues from the Respondent in a manner different from the approved resolution plan, which provided for payment of pre-CIRP dues in 8 quarterly installments from June 2022 to March 2024. The Appellant claimed that payments made by the Corporate Debtor after CIRP commencement should be appropriated towards pre-CIRP dues instead of current CIRP costs. The NCLAT held that the resolution plan's schedule for payment of pre-CIRP dues was sacrosanct and cannot be superseded. Any payments made after CIRP commencement must be appropriated towards current CIRP dues, not pre-CIRP dues. The Appellant was entitled to payment of pre-CIRP dues only as per the approved resolution plan. The Adjudicating Authority's view that post-CIRP payments cannot be appropriated towards pre-CIRP dues was reasonable and upheld. The appeal was dismissed.
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