Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
Approved resolution plans extinguish unsubmitted pre-approval tax claims, preventing later recovery outside the insolvency process and preserving a cl...
The HC held that once a resolution plan is approved by the NCLT, no further claims or liabilities, including GST demands, can be raised against the resolution applicant, as doing so violates the fundamental principles of the Insolvency and Bankruptcy Code designed to provide a fresh start. The Court quashed the impugned assessment order under Section 73 of the CGST/UPGST Act, 2017 for the 2017-18 tax period and the show cause notice under the same provision for 2018-19, emphasizing that post-approval claims disrupt the resolution process and are illegal. Consequently, the petition was allowed, barring the recovery of GST dues after the resolution plan's sanction.
The HC held that once a resolution plan is approved by the NCLT, no further claims or liabilities, including GST demands, can be raised against the resolution applicant, as doing so violates the fundamental principles of the Insolvency and Bankruptcy Code designed to provide a fresh start. The Court quashed the impugned assessment order under Section 73 of the CGST/UPGST Act, 2017 for the 2017-18 tax period and the show cause notice under the same provision for 2018-19, emphasizing that post-approval claims disrupt the resolution process and are illegal. Consequently, the petition was allowed, barring the recovery of GST dues after the resolution plan's sanction.
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