Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
The AT accepted the DGAP report in part, finding that the respondent had profiteered Rs. 6,88,770 for the period 27.07.2018-31.10.2018 and directed the respondent to deposit that profiteered amount into the Consumer Welfare Fund, to be apportioned equally between the Centre and States. The Tribunal held that the statutory provision imposing interest at 18% on profiteered amounts is not applicable retrospectively; it operates only from the date the amending rule came into force (post-28.06.2019), and therefore, because the profiteering occurred prior thereto, the respondent was not directed to pay interest. The application was disposed of accordingly.
The AT accepted the DGAP report in part, finding that the respondent had profiteered Rs. 6,88,770 for the period 27.07.2018-31.10.2018 and directed the respondent to deposit that profiteered amount into the Consumer Welfare Fund, to be apportioned equally between the Centre and States. The Tribunal held that the statutory provision imposing interest at 18% on profiteered amounts is not applicable retrospectively; it operates only from the date the amending rule came into force (post-28.06.2019), and therefore, because the profiteering occurred prior thereto, the respondent was not directed to pay interest. The application was disposed of accordingly.
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