Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
NCLAT dismissed appeal regarding distribution of liquidation proceeds under IBC's waterfall mechanism. Following failed CIRP, dispute arose over distribution method - whether based on security interest or pro-rata as per admitted claims under Section 53(1). Tribunal upheld earlier precedent from Oriental Bank case, rejecting exclusive distribution to creditor with charge over corporate debtor's property. Stakeholder undertakings regarding return of excess distributions under Regulation 43 of Liquidation Process Regulations were deemed not to affect redistribution rights. Adjudicating Authority's direction for pro-rata distribution based on admitted claims of Financial Creditors was affirmed as legally sound.
NCLAT dismissed appeal regarding distribution of liquidation proceeds under IBC's waterfall mechanism. Following failed CIRP, dispute arose over distribution method - whether based on security interest or pro-rata as per admitted claims under Section 53(1). Tribunal upheld earlier precedent from Oriental Bank case, rejecting exclusive distribution to creditor with charge over corporate debtor's property. Stakeholder undertakings regarding return of excess distributions under Regulation 43 of Liquidation Process Regulations were deemed not to affect redistribution rights. Adjudicating Authority's direction for pro-rata distribution based on admitted claims of Financial Creditors was affirmed as legally sound.
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