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...
Crystallization of debt and the effect of undertakings in interlocutory proceedings were examined: interlocutory findings and recorded undertakings lack finality and cannot be extracted to defeat initiation of a corporate insolvency resolution process under the insolvency statute; therefore an observation in a miscellaneous appeal arising from an interlocutory order cannot be relied on to argue non crystallisation of debt. An admission of liability by the debtor amounts to an admission of debt, supporting the creditor's insolvency application. Consequently the appellate challenge to the insolvency initiation was rejected and the appeal dismissed by the NCLAT.
Crystallization of debt and the effect of undertakings in interlocutory proceedings were examined: interlocutory findings and recorded undertakings lack finality and cannot be extracted to defeat initiation of a corporate insolvency resolution process under the insolvency statute; therefore an observation in a miscellaneous appeal arising from an interlocutory order cannot be relied on to argue non crystallisation of debt. An admission of liability by the debtor amounts to an admission of debt, supporting the creditor's insolvency application. Consequently the appellate challenge to the insolvency initiation was rejected and the appeal dismissed by the NCLAT.
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