Charity-run tree plantation and maintenance for environmental preservation qualifies as "charitable activity", making supplies GST-exempt under Notifi...
Drawings/designs supply and erection supervision fees from German contractor: designs non-taxable; supervision taxed as FTS/PE depending on six-month ...
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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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