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    July 24, 2026   Case LawsService Tax
    Intermediary-service classification excludes own-account group support services, allowing cost-plus supplies to qualify as exports of services.
    July 24, 2026   Case LawsService Tax
    Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
    July 24, 2026   Case LawsIndian Laws
    Vicarious liability for cheque dishonour requires specific allegations linking each director to the company's business and transaction.
    July 23, 2026   NotificationsDGFT
    Import classification alignment updates ITC (HS) entries, conditions and product descriptions with immediate effect under the Finance Act.
    July 23, 2026   NotificationsIncome Tax
    Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
    July 23, 2026   NotificationsIncome Tax
    Tax exemption for legal services authority income applies subject to non-commercial activity, return filing, and unchanged income conditions.
    July 23, 2026   NotificationsIncome Tax
    Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
    July 23, 2026   CircularsSEZ
    RFID sealing for SEZ export containers becomes the sole required mechanism, preventing additional sealing demands at gateway ports.
    July 23, 2026   Case LawsGST
    Assignment of leasehold rights treated as transfer arising from land, with GST held not leviable on the transaction.
    July 23, 2026   Case LawsGST
    Interest on delayed GST payments cannot be charged after timely Electronic Cash Ledger credit; excess interest refund follows.
    July 23, 2026   Case LawsGST
    Instalment payment of outstanding GST interest continues until December 2026, subject to automatic withdrawal upon any payment default.
    July 23, 2026   Case LawsGST
    E-way bill expiry alone cannot justify goods detention when breakdown delays delivery without evidence of tax evasion.
    July 23, 2026   Case LawsGST
    Financial incapacity may support a waiver request for mandatory pre-deposit before the appellate authority in exceptional circumstances.
    July 23, 2026   Case LawsGST
    Natural justice requires a further opportunity to substantiate disputed input tax credit transactions before final demand determination.
    July 23, 2026   Case LawsGST
    Properly addressed show cause notice is essential for GST adjudication; orders based on notice to another entity were quashed.
    July 23, 2026   Case LawsGST
    De novo GST adjudication granted subject to conditional pre-deposit, substantiated reply, and compliance with fresh-hearing requirements.
    July 23, 2026   Case LawsIncome Tax
    Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
    July 23, 2026   Case LawsIncome Tax
    Statutory bar on probation invalidates release of a person convicted for making a false income-tax return statement.
    July 23, 2026   Case LawsIncome Tax
    Ten-year reassessment limitation includes the search assessment year in search cases, rendering notices beyond the period time-barred.
    July 23, 2026   Case LawsIncome Tax
    Reasonable cause for inadvertent Form 3CD omissions can prevent penalty where software error and no mala fide intent are shown.
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    July 24, 2026   Case Laws Service Tax
    Intermediary-service classification excludes own-account group support services, allowing cost-plus supplies to qualify as exports of services.
    July 24, 2026   Case Laws Service Tax
    Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression determine tax consequences.
    July 24, 2026   Case Laws Indian Laws
    Vicarious liability for cheque dishonour requires specific allegations linking each director to the company's business and transaction.
    July 23, 2026   Notifications DGFT
    Import classification alignment updates ITC (HS) entries, conditions and product descriptions with immediate effect under the Finance Act.
    July 23, 2026   Notifications Income Tax
    Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Services Centre funds.
    July 23, 2026   Notifications Income Tax
    Tax exemption for legal services authority income applies subject to non-commercial activity, return filing, and unchanged income conditions.
    July 23, 2026   Notifications Income Tax
    Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return filing.
    July 23, 2026   Circulars SEZ
    RFID sealing for SEZ export containers becomes the sole required mechanism, preventing additional sealing demands at gateway ports.
    July 23, 2026   Case Laws GST
    Assignment of leasehold rights treated as transfer arising from land, with GST held not leviable on the transaction.
    July 23, 2026   Case Laws GST
    Interest on delayed GST payments cannot be charged after timely Electronic Cash Ledger credit; excess interest refund follows.
    July 23, 2026   Case Laws GST
    Instalment payment of outstanding GST interest continues until December 2026, subject to automatic withdrawal upon any payment default.
    July 23, 2026   Case Laws GST
    E-way bill expiry alone cannot justify goods detention when breakdown delays delivery without evidence of tax evasion.
    July 23, 2026   Case Laws GST
    Financial incapacity may support a waiver request for mandatory pre-deposit before the appellate authority in exceptional circumstances.
    July 23, 2026   Case Laws GST
    Natural justice requires a further opportunity to substantiate disputed input tax credit transactions before final demand determination.
    July 23, 2026   Case Laws GST
    Properly addressed show cause notice is essential for GST adjudication; orders based on notice to another entity were quashed.
    July 23, 2026   Case Laws GST
    De novo GST adjudication granted subject to conditional pre-deposit, substantiated reply, and compliance with fresh-hearing requirements.
    July 23, 2026   Case Laws Income Tax
    Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a clean slate.
    July 23, 2026   Case Laws Income Tax
    Statutory bar on probation invalidates release of a person convicted for making a false income-tax return statement.
    July 23, 2026   Case Laws Income Tax
    Ten-year reassessment limitation includes the search assessment year in search cases, rendering notices beyond the period time-barred.
    July 23, 2026   Case Laws Income Tax
    Reasonable cause for inadvertent Form 3CD omissions can prevent penalty where software error and no mala fide intent are shown.

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      Home› Highlights › IBC › 2024 › September, 2024 › This
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      IBC

      Interpretation of Regulation 21A of IBBI (Liquidation Process)...

      Secured creditors must realize security interest within 180 days or lose asset to liquidation estate; late claims rejected.

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      IBCSeptember 30, 2024Case LawsTri
      Interpretation of Regulation 21A of IBBI (Liquidation Process) Regulations, 2016 regarding secured creditor's obligation to realize security interest within stipulated time. Regulation casts duty on secured creditor to pay liquidator estimated amount or excess realized value within prescribed timeline, failing which asset becomes part of liquidation estate. Secured creditor's contention of non-communication of estimated amount by liquidator rejected as misplaced. Law mandates secured creditor to complete realization process within 180 days, after which asset vests with liquidation estate under Regulation 21A(3). Secured creditor's belated claim over remaining property portion rejected for non-compliance with 30-day intimation requirement. Liquidator's decision upheld as per regulations. Application dismissed by Tribunal.
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      ActsIncome Tax
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