Transfer-pricing aggregation of distinct support-service and subcontract transactions was rejected, while debt-free receivables attracted no notional ...
Customs exemptions cover photovoltaic assembly machinery and PVF backsheets, while fully declared cleared imports may avoid confiscation and penalties...
Specific tariff classification for LCD devices overrides treatment as electricity-meter parts, defeating differential duty, extended limitation, and p...
Stayed disciplinary punishment does not establish unfitness for insolvency professional registration; reconsideration must disregard mere pendency of ...
Indirect corporate control can create related-party status, excluding financial creditors from Committee of Creditors representation, participation an...
Scientific research association approval requires continuing SIRO status, annual donation reporting, and donor certificates for the approved foundatio...
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A resolution plan was approved for the petitioner on 26.03.2021 under the Insolvency and Bankruptcy Code (IBC). The Municipal Corporation of Delhi (MCD) demanded property tax from the petitioner for the period prior to the approval date. The court relied on Ghanashyam Mishra case, which held that upon approval of a resolution plan, all statutory dues owed to government authorities prior to the approval date stand extinguished if not included in the plan. MCD did not lodge its claim during the corporate insolvency resolution process (CIRP). Consequently, MCD cannot demand property tax dues prior to 26.03.2021. The Rainbow Papers case is distinguished as the statutory authority there had lodged its claim during CIRP. An interim stay was granted on MCD's demand for pre-approval period, while directing the petitioner to pay property tax after 26.03.2021. The matter was listed for further hearing.
A resolution plan was approved for the petitioner on 26.03.2021 under the Insolvency and Bankruptcy Code (IBC). The Municipal Corporation of Delhi (MCD) demanded property tax from the petitioner for the period prior to the approval date. The court relied on Ghanashyam Mishra case, which held that upon approval of a resolution plan, all statutory dues owed to government authorities prior to the approval date stand extinguished if not included in the plan. MCD did not lodge its claim during the corporate insolvency resolution process (CIRP). Consequently, MCD cannot demand property tax dues prior to 26.03.2021. The Rainbow Papers case is distinguished as the statutory authority there had lodged its claim during CIRP. An interim stay was granted on MCD's demand for pre-approval period, while directing the petitioner to pay property tax after 26.03.2021. The matter was listed for further hearing.
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