The NCLAT held that the deposit of Rs.17,12,094/- by VE...

The NCLAT held that the deposit of Rs.17,12,094/- by VE Commercial Vehicles Limited before the Commercial Tax Department, in response to a notice for reversing the input tax availed by it as the Corporate Debtor had not deposited the GST amount, did not constitute a preferential transaction u/s 43 of the IBC or violation of the moratorium u/s 14. The Commercial Tax Department did not recover any amount from the Corporate Debtor or its assets. VE Commercial Vehicles Limited had merely reversed the input tax benefit taken by it. The NCLAT allowed the appeal and set aside the Adjudicating Authority's order directing VE Commercial Vehicles Limited to refund the amount.