Invoice-based recovery claims remain time-barred despite separate winding-up proceedings, absent valid acknowledgment or part-payment of the disputed ...
Extended limitation fails without specific suppression allegations, while overseas employee secondment remains taxable as manpower supply within norma...
Time-share accommodation classification excludes Club or Association Service where purchasers receive contractual occupancy rights without genuine mem...
CENVAT credit for trading requires reversal, while taxable-service rental credit remains proportionately available and limitation issues await resolut...
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The AT addressed the interplay between PMLA and IBC provisions regarding attached properties of a corporate debtor. The tribunal held that Section 32-A(2) prohibits actions against corporate debtor properties for offenses predating the corporate insolvency resolution process. The resolution plan for the corporate debtor was approved by the Committee of Creditors, permitting property disposal as per resolution plan terms. If the resolution plan fails, the appellant bank can seek auction sale through the PMLA Court, with an undertaking to deposit excess proceeds. The tribunal emphasized that no punitive action shall be taken against corporate debtor properties covered under an approved resolution plan, effectively balancing investigative interests with insolvency resolution mechanisms. Appeal disposed of.
The AT addressed the interplay between PMLA and IBC provisions regarding attached properties of a corporate debtor. The tribunal held that Section 32-A(2) prohibits actions against corporate debtor properties for offenses predating the corporate insolvency resolution process. The resolution plan for the corporate debtor was approved by the Committee of Creditors, permitting property disposal as per resolution plan terms. If the resolution plan fails, the appellant bank can seek auction sale through the PMLA Court, with an undertaking to deposit excess proceeds. The tribunal emphasized that no punitive action shall be taken against corporate debtor properties covered under an approved resolution plan, effectively balancing investigative interests with insolvency resolution mechanisms. Appeal disposed of.
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