Classification of imported salvaged shaft pieces as ship parts confirmed, reassessment time-barred and appeal allowed restoring original classificatio...
Scope of intermediary status for data hosting services: tribunal finds provider not intermediary, services exported and not taxable, limited remand on...
CENVAT credit availability after omission of Rule 12B in textiles confirmed; late addendum to SCN introducing new grounds held time-barred and invalid...
Export of Wheat Flour and related products subject to online allocation, eligibility criteria, non-transferable six-month authorisations and reporting...
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Distribution of assets in company liquidation must exclude third-party assets before applying the statutory waterfall: exclusion of amounts held for employees (provident, pension and gratuity funds) takes precedence over general distribution rules, and sums determined under EPF provisions fall within all sums due to workmen. Such employee entitlements constitute third-party assets even if not held in a dedicated account and must be removed from the liquidation estate prior to distribution. Misclassification by the liquidator requires corrective relief: the financial creditor was directed to remit the disputed amount to the employee fund claimant and report compliance to the adjudicating authority for record correction.
Distribution of assets in company liquidation must exclude third-party assets before applying the statutory waterfall: exclusion of amounts held for employees (provident, pension and gratuity funds) takes precedence over general distribution rules, and sums determined under EPF provisions fall within all sums due to workmen. Such employee entitlements constitute third-party assets even if not held in a dedicated account and must be removed from the liquidation estate prior to distribution. Misclassification by the liquidator requires corrective relief: the financial creditor was directed to remit the disputed amount to the employee fund claimant and report compliance to the adjudicating authority for record correction.
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