Handicraft job work receives concessional GST only for registered principals and predominantly handmade goods; commercial resin articles remain taxabl...
Reassessment disclosure requirements permit stated reasons without revealing information sources, but prior-taxation claims require full examination b...
Independent assessment discretion and corroborated electronic evidence determine validity of on-money additions and undisclosed-consideration assessme...
NCLAT held that an IRP/RP, vested with management of the corporate debtor (CD), has statutory authority to admit claims and that such admission constitutes an acknowledgement of liability under Section 18 of the Limitation Act, thereby resetting the limitation period for instituting CIRP under the IBC. The Tribunal found the RP's admission of the respondent's claim on 22.05.2022 and its subsequent update on 21.02.2024 to be valid acknowledgements; consequently the respondent's petitions were not time-barred. Both appeals were dismissed and the orders of the Adjudicating Authority were affirmed.
NCLAT held that an IRP/RP, vested with management of the corporate debtor (CD), has statutory authority to admit claims and that such admission constitutes an acknowledgement of liability under Section 18 of the Limitation Act, thereby resetting the limitation period for instituting CIRP under the IBC. The Tribunal found the RP's admission of the respondent's claim on 22.05.2022 and its subsequent update on 21.02.2024 to be valid acknowledgements; consequently the respondent's petitions were not time-barred. Both appeals were dismissed and the orders of the Adjudicating Authority were affirmed.
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