Arrest safeguards and transit remand requirements invalidated detention following inter-State transfer without communicated grounds or magistrate auth...
Arrest safeguards require disclosed grounds, relative intimation and transit remand, while duplicate prosecution under the CGST framework is unsustain...
Document Identification Number defects can invalidate GST assessments, with delayed challenges entertained conditionally where patent irregularities e...
Windmill commissioning evidence supported higher depreciation where grid connection and electricity generation proved operational use before the relev...
Pharmaceutical promotion and transfer-pricing comparability principles limited disallowances, while uncorroborated search allegations and unsupported ...
Business expenditure substantiation supports scrap credits, statutory payments and expense claims, while depreciation requires proof of actual busines...
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The HC held that upon sale of the corporate debtor in liquidation as a going concern on a "clean state" basis, all pre-sale dues stand frozen and are extinguished, with creditors' entitlements confined to the Section 53 waterfall; accordingly liability of Petitioner No.1 for tax, interest and penalty for periods prior to the sale cannot be adjudicated outside the insolvency framework. The tax proceedings initiated against the petitioner for FY 2019-2020 were held to be impermissible, the impugned assessment/order was quashed, and the petition disposed of, confirming that a purchaser of the corporate debtor as a going concern is not saddled with antecedent liabilities.
The HC held that upon sale of the corporate debtor in liquidation as a going concern on a "clean state" basis, all pre-sale dues stand frozen and are extinguished, with creditors' entitlements confined to the Section 53 waterfall; accordingly liability of Petitioner No.1 for tax, interest and penalty for periods prior to the sale cannot be adjudicated outside the insolvency framework. The tax proceedings initiated against the petitioner for FY 2019-2020 were held to be impermissible, the impugned assessment/order was quashed, and the petition disposed of, confirming that a purchaser of the corporate debtor as a going concern is not saddled with antecedent liabilities.
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