Online bond platforms may offer overseas-regulated products and tax-specific bonds subject to disclosures, compliance safeguards and revised complianc...
Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
Building-plan sanction charges require statutory authority; unauthorised fees and GST were quashed, while labour cess must follow prescribed collectio...
Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
HC held that, pursuant to the Supreme Court precedent, approval of a Resolution Plan by the NCLT conclusively bars subsequent claims by other creditors as such claims would disrupt the resolution process. Applying that principle, the Court found no justification to sustain a post-approval tax assessment and accordingly quashed the impugned assessment order dated 29.04.2025 issued under Section 74(9) of the CGST/UPGST Act, 2017 against the Petitioner. The petition was allowed and the assessment order set aside, leaving the approved Resolution Plan and the insolvency resolution framework undisturbed; no further dues may be created against the Petitioner arising from the specified assessment.
HC held that, pursuant to the Supreme Court precedent, approval of a Resolution Plan by the NCLT conclusively bars subsequent claims by other creditors as such claims would disrupt the resolution process. Applying that principle, the Court found no justification to sustain a post-approval tax assessment and accordingly quashed the impugned assessment order dated 29.04.2025 issued under Section 74(9) of the CGST/UPGST Act, 2017 against the Petitioner. The petition was allowed and the assessment order set aside, leaving the approved Resolution Plan and the insolvency resolution framework undisturbed; no further dues may be created against the Petitioner arising from the specified assessment.
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