Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central Excise Act, 1944 does not provide for a first charge on the assessee's property, giving priority to secured creditors' dues over excise dues. However, in the case of Sales Tax and VAT, the Supreme Court ruled that the State is a secured creditor under the Insolvency and Bankruptcy Code, 2016. The Debt Recovery Tribunal correctly dismissed the objections raised by the company regarding the order of attachment for recovery of dues by attaching properties, considering the legal position on priority of dues.
Priority of dues between the Central Excise Department and secured creditors in cases of attachment of properties for recovery. The Supreme Court held that the Central Excise Act, 1944 does not provide for a first charge on the assessee's property, giving priority to secured creditors' dues over excise dues. However, in the case of Sales Tax and VAT, the Supreme Court ruled that the State is a secured creditor under the Insolvency and Bankruptcy Code, 2016. The Debt Recovery Tribunal correctly dismissed the objections raised by the company regarding the order of attachment for recovery of dues by attaching properties, considering the legal position on priority of dues.
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