Drawings/designs supply and erection supervision fees from German contractor: designs non-taxable; supervision taxed as FTS/PE depending on six-month ...
Imported analyser diagnostic cartridges treated as accessories with analyser system, not standalone diagnostic reagents; extended limitation and penal...
Steel-timber construction shuttering/formwork tariff classification dispute: essential character held steel, classified as shuttering under Heading 73...
NCLAT allowed the appeal filed by the Liquidator of the corporate debtor and set aside the NCLT order rejecting dissolution. NCLAT held that NCLT committed a patent error in presuming the Income Tax Department to be a secured creditor and in mechanically relying on precedents that had already been distinguished on facts. The record showed that notice had been duly served on the Income Tax Department, but no appearance was entered, and its counsel had earlier stated that no charge existed over the corporate debtor's assets and that Rainbow Papers was inapplicable. NCLAT remanded the matter to NCLT with a direction to pass an order of dissolution of the corporate debtor in accordance with law.
NCLAT allowed the appeal filed by the Liquidator of the corporate debtor and set aside the NCLT order rejecting dissolution. NCLAT held that NCLT committed a patent error in presuming the Income Tax Department to be a secured creditor and in mechanically relying on precedents that had already been distinguished on facts. The record showed that notice had been duly served on the Income Tax Department, but no appearance was entered, and its counsel had earlier stated that no charge existed over the corporate debtor's assets and that Rainbow Papers was inapplicable. NCLAT remanded the matter to NCLT with a direction to pass an order of dissolution of the corporate debtor in accordance with law.
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