Retention of seized property survives where recorded reasons support proceeds of crime, while stayed investigation periods are excluded from limitatio...
Specified income of Baddi Barotiwala Nalagarh Development Authority receives conditional tax exemption, retrospectively covering its designated assess...
Specified development authority income receives retrospective tax exemption, subject to non-commercial activity, unchanged income sources, and return-...
Unified Brand India framework introduces voluntary Trust Mark certification and funding support for export branding, packaging and global promotional ...
Origin Declaration authentication governs preferential tariff claims under India-UK CETA, requiring a validated reference number before import clearan...
Separate assessment orders for different years remain valid when distinct notices and hearing opportunities prevent prejudice from combined proceeding...
The NCLAT set aside the order and allowed the appeal, ruling that outstanding lease rental and premium due during the CIRP period cannot be included in CIRP costs. It relied on its previous decision in Sunil Kumar Agrawal case, which held that the explanation u/s 14(1)(d) of IBC is not applicable to premium amount or lease rent as they are not covered under licenses, permits, registrations, quotas, concessions, or clearances mentioned in that section. The NCLAT maintained the same order as in Sunil Kumar Agrawal case, despite NOIDA challenging it in the Supreme Court through a civil appeal where notice has been issued but no stay granted. The NCLAT will follow its previous order until the Supreme Court decides on its correctness in the pending civil appeal.
The NCLAT set aside the order and allowed the appeal, ruling that outstanding lease rental and premium due during the CIRP period cannot be included in CIRP costs. It relied on its previous decision in Sunil Kumar Agrawal case, which held that the explanation u/s 14(1)(d) of IBC is not applicable to premium amount or lease rent as they are not covered under licenses, permits, registrations, quotas, concessions, or clearances mentioned in that section. The NCLAT maintained the same order as in Sunil Kumar Agrawal case, despite NOIDA challenging it in the Supreme Court through a civil appeal where notice has been issued but no stay granted. The NCLAT will follow its previous order until the Supreme Court decides on its correctness in the pending civil appeal.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4807 
Join Channel 
