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...
A contractual dispute whether non payment of a second instalment constitutes an operational debt under Sec. 5(21) and thus triggers initiation under Section 9 IBC was examined by applying the plain reading of the contract and the Mobilox test. The Tribunal held that a mere right to claim damages (Sec. 3(6)) does not automatically become an operational debt; because the contract reasonably admits the respondent's interpretation, a plausible pre existing dispute exists. Consequence: the pre existing dispute prevents invocation of insolvency remedies and the adjudicating authority's order was affirmed, with the appeal dismissed.
A contractual dispute whether non payment of a second instalment constitutes an operational debt under Sec. 5(21) and thus triggers initiation under Section 9 IBC was examined by applying the plain reading of the contract and the Mobilox test. The Tribunal held that a mere right to claim damages (Sec. 3(6)) does not automatically become an operational debt; because the contract reasonably admits the respondent's interpretation, a plausible pre existing dispute exists. Consequence: the pre existing dispute prevents invocation of insolvency remedies and the adjudicating authority's order was affirmed, with the appeal dismissed.
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