Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
NCLAT dismissed appeal challenging treatment of tax claims as operational debt under IBC resolution plan. Tribunal affirmed that Section 11E of Central Excise Act and Section 82 of CGST Act create explicit exceptions regarding IBC provisions. The appellant's tax claims were correctly classified as operational debt, eligible for payment u/s 30(2)(b). No violation found as payment exceeded liquidation value u/s 53(1) waterfall mechanism. Tribunal distinguished this from Gujarat VAT precedent, noting Central Excise Act's distinct provisions. Resolution plan approval upheld as compliant with statutory requirements for operational creditor treatment of tax claims.
NCLAT dismissed appeal challenging treatment of tax claims as operational debt under IBC resolution plan. Tribunal affirmed that Section 11E of Central Excise Act and Section 82 of CGST Act create explicit exceptions regarding IBC provisions. The appellant's tax claims were correctly classified as operational debt, eligible for payment u/s 30(2)(b). No violation found as payment exceeded liquidation value u/s 53(1) waterfall mechanism. Tribunal distinguished this from Gujarat VAT precedent, noting Central Excise Act's distinct provisions. Resolution plan approval upheld as compliant with statutory requirements for operational creditor treatment of tax claims.
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