Necessary-party requirements limit impleadment of independent entities, while deferred consideration does not create an appealable adverse determinati...
Food supplement classification requires common parlance and authoritative tests, preventing treatment as proprietary Ayurvedic medicines without suppo...
Specified regulatory authority income receives conditional tax exemption, subject to non-commercial activity, unchanged income character, and return f...
Tax exemption for regulatory authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and return-filing...
Input tax credit conditions remain constitutionally valid, with eligible recipient claims considered under GST circulars and retrospective filing dead...
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NCLAT upheld the Adjudicating Authority's order, holding that the movables and inventory lying in the leased premises formed part of the liquidation estate of the corporate debtor under S.36 IBC. The burden to rebut the presumption of ownership lay on the appellant, who failed to produce credible contemporaneous evidence before the Adjudicating Authority or NCLAT, including invoices supporting the SAP records. NCLAT noted the appellant's prolonged inaction and held there was tacit acquiescence to the corporate debtor's ownership, especially as the appellant, a signatory to the SPA, had opportunity to object during CIRP and liquidation. As the assets were already sold, sale certificate issued, and proceeds distributed, NCLAT found no infirmity or ground for interference and dismissed the appeal.
NCLAT upheld the Adjudicating Authority's order, holding that the movables and inventory lying in the leased premises formed part of the liquidation estate of the corporate debtor under S.36 IBC. The burden to rebut the presumption of ownership lay on the appellant, who failed to produce credible contemporaneous evidence before the Adjudicating Authority or NCLAT, including invoices supporting the SAP records. NCLAT noted the appellant's prolonged inaction and held there was tacit acquiescence to the corporate debtor's ownership, especially as the appellant, a signatory to the SPA, had opportunity to object during CIRP and liquidation. As the assets were already sold, sale certificate issued, and proceeds distributed, NCLAT found no infirmity or ground for interference and dismissed the appeal.
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