Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
Insolvency law's overriding effect and the clean slate doctrine require that municipal dues be treated as operational debts and be presented to the liquidator for participation in the liquidation waterfall; purchasers at liquidation sales or successful resolution applicants are not liable for pre sale statutory liabilities unless the authority lodged a claim and the debt qualified as a secured interest. Contractual clauses like "as is where is" cannot preserve a municipal charge extinguished or subordinated under the Code. Retrospective revaluation or assessment against post sale purchasers who did not know of or claim the dues is not enforceable, and the impugned assessment notices were set aside with the writ allowed.
Insolvency law's overriding effect and the clean slate doctrine require that municipal dues be treated as operational debts and be presented to the liquidator for participation in the liquidation waterfall; purchasers at liquidation sales or successful resolution applicants are not liable for pre sale statutory liabilities unless the authority lodged a claim and the debt qualified as a secured interest. Contractual clauses like "as is where is" cannot preserve a municipal charge extinguished or subordinated under the Code. Retrospective revaluation or assessment against post sale purchasers who did not know of or claim the dues is not enforceable, and the impugned assessment notices were set aside with the writ allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 4805
Join Channel
TaxTMI 
