Stamp valuation increases after registration-fee payment led to deletion of property-purchase addition within tolerance and without valuation referral...
Capital Asset Conversion Requires Proven Business Stock Treatment; Paper Consideration in Spousal Flat Transfers Does Not Create Taxable Business Inco...
Human-probability test defeats political donation deduction where banking records mask accommodation-entry fund layering and evidence shows non-genuin...
Commercial property status protects capital-gains exemption when residential-house ownership limits are tested, while agricultural-land character gove...
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.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4913 
