Threshold for allottee-initiated insolvency petitions in leasehold real estate upheld; petition admitted after possession letters deemed legally ineff...
Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Whether EPF authorities could initiate/continue assessment under ss. 7A, 7Q and 14B of the EPF Act and raise consequent demands during the s. 14 IBC moratorium, and thereafter enforce such dues against the successful resolution applicant, was decided. The tribunal held that once CIRP commences, moratorium bars initiation or continuation of assessment proceedings that fasten pecuniary liability on the corporate debtor; any demand founded on inspections/assessments undertaken and concluded during moratorium, and not lodged as a claim in CIRP, cannot be enforced even through post-plan notices or summons. Accordingly, the impugned EPF demands were set aside, the successful resolution applicant's appeal was allowed to that extent, and the EPF authority's cross-appeal seeking priority was rejected - NCLAT
Whether EPF authorities could initiate/continue assessment under ss. 7A, 7Q and 14B of the EPF Act and raise consequent demands during the s. 14 IBC moratorium, and thereafter enforce such dues against the successful resolution applicant, was decided. The tribunal held that once CIRP commences, moratorium bars initiation or continuation of assessment proceedings that fasten pecuniary liability on the corporate debtor; any demand founded on inspections/assessments undertaken and concluded during moratorium, and not lodged as a claim in CIRP, cannot be enforced even through post-plan notices or summons. Accordingly, the impugned EPF demands were set aside, the successful resolution applicant's appeal was allowed to that extent, and the EPF authority's cross-appeal seeking priority was rejected - NCLAT
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4819 
Join Channel 
