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Corporate guarantee valuation permits actual ascertainable commission while barring retroactive application and extended-period penalties for bona fid...
Proper-officer jurisdiction under UPGST penalty provisions upheld; participation on merits prevents bypassing the statutory appellate remedy through w...
Transitioned CENVAT credit may validly satisfy mandatory pre-deposit requirements for legacy service tax appeals through Electronic Credit Ledger debi...
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Pure-agent exclusion fails where hotel booking facilitators receive third-party services themselves, making entire customer consideration taxable as r...
HC held that orders obtained through fraud in the company's liquidation proceedings are nullities and liable to be set aside notwithstanding the lapse of over 30 years, as fraud vitiates limitation and all judicial acts. The appointment and continued control of the Special Officer, who had undisclosed conflicting interests and surreptitiously became the largest creditor and shareholder, was found to be an abuse of process. HC concluded that, given the company's concealed assets, absence of claims from creditors or employees, and the principle that winding up is a last resort, the company should not continue in liquidation and its remaining/traced assets must enure to its benefit. All applications seeking to sustain the fraudulent arrangement, including the prayer to transfer the matter to NCLT, were rejected, and the proceedings were disposed of accordingly.
HC held that orders obtained through fraud in the company's liquidation proceedings are nullities and liable to be set aside notwithstanding the lapse of over 30 years, as fraud vitiates limitation and all judicial acts. The appointment and continued control of the Special Officer, who had undisclosed conflicting interests and surreptitiously became the largest creditor and shareholder, was found to be an abuse of process. HC concluded that, given the company's concealed assets, absence of claims from creditors or employees, and the principle that winding up is a last resort, the company should not continue in liquidation and its remaining/traced assets must enure to its benefit. All applications seeking to sustain the fraudulent arrangement, including the prayer to transfer the matter to NCLT, were rejected, and the proceedings were disposed of accordingly.
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