Political contribution deductions require genuine transactions; banking records and party registration alone cannot defeat evidence of accommodation e...
Post-death GST liability permits fresh proceedings against legal representatives, while discontinued-business recovery remains limited to the inherite...
Non-confirmation of FEMA seizure prevents adjudicators from overriding pending appellate findings on recorded reasons and suspected foreign asset hold...
Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for assessment years 2006-07 to 2011-12, stand extinguished. The State Tax Authority was an operational creditor in the Corporate Insolvency Resolution Process and had lodged a claim, but did not object to the approval of the resolution plan. Consequently, the demand notice issued by the State Tax Officer for recovery of outstanding dues is quashed and set aside, as no claim can be made after the resolution plan's approval, upholding the settled legal principle.
Once the resolution plan is approved under the Insolvency and Bankruptcy Code, any outstanding claims, including those under the Gujarat Value Added Tax Act for assessment years 2006-07 to 2011-12, stand extinguished. The State Tax Authority was an operational creditor in the Corporate Insolvency Resolution Process and had lodged a claim, but did not object to the approval of the resolution plan. Consequently, the demand notice issued by the State Tax Officer for recovery of outstanding dues is quashed and set aside, as no claim can be made after the resolution plan's approval, upholding the settled legal principle.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
