Classification of imported goods as electronic cigarette versus tobacco product reversed for lack of proof; order set aside for jurisdictional overrea...
Reversal of input tax credit in proportion to exempt supply: specificity of show-cause notice required; order set aside, fresh proceedings allowed wit...
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
Whether statutory authorities could undertake post-CIRP assessment and raise claims for interest and damages under Sections 7Q and 14B for a pre-CIRP period was determined by applying the moratorium under Section 14 of the IBC. Relying on binding precedent, it was held that once moratorium is in force, no assessment proceedings can be carried out and, consequently, no such claim can be raised even if the liability relates to a period prior to CIRP. On this legal basis, the rejection of the applicant's claim/application was upheld and the appeal was dismissed. - NCLAT
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