Natural justice in insolvency-professional discipline requires disclosed material; notices based on extraneous material and ignored defences are vitia...
Development rights transfers treated as immovable property, while construction abatement applies and repeated non-payment permits extended service-tax...
Income Disclosure Scheme immunity and search-material requirements barred further share-transaction additions in unabated assessments under section 15...
The HC dismissed the petition and upheld the Respondent's refusal to effect mutation, holding the refusal lawful, reasonable and within the statutory scheme. The court ruled that municipal property tax creates a statutory charge on the asset which the authority may enforce through its statutory mechanism; such dues are not displaced by insolvency proceedings. An auction purchaser may be saddled with pre-sale statutory liabilities if the purchaser was or ought to have been put on notice; where the sale notice and EOI required bidders to conduct due diligence, the successful auction purchaser is liable for outstanding property tax as an encumbrance. The challenge to the corporation's denial of mutation was therefore rejected.
The HC dismissed the petition and upheld the Respondent's refusal to effect mutation, holding the refusal lawful, reasonable and within the statutory scheme. The court ruled that municipal property tax creates a statutory charge on the asset which the authority may enforce through its statutory mechanism; such dues are not displaced by insolvency proceedings. An auction purchaser may be saddled with pre-sale statutory liabilities if the purchaser was or ought to have been put on notice; where the sale notice and EOI required bidders to conduct due diligence, the successful auction purchaser is liable for outstanding property tax as an encumbrance. The challenge to the corporation's denial of mutation was therefore rejected.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4828 
Join Channel 
