Contravention of foreign exchange rules in crossborder diamond payments; appellate tribunal reduces one appellant's penalty for delay and proportional...
RPA (Remote Pilot Aircraft) for military use defined to include drones/UAV/UAS; exemptions limited to specified defence imports with Joint Secretary c...
Transfer of going concern and transfer of input tax credit under GST allowed; exemption applies though interstate ledger transfers left to authorities...
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
Tribunal recognised that sums due to workmen from provident, pension and gratuity funds are excluded from the liquidation estate, but held that where the liquidator had already applied all available assets to CIRP costs, liquidation costs and priority payments leaving no remaining assets, the EPFO's application for recovery could not be granted; strict enforcement of the exclusion could not defeat necessary insolvency and liquidation costs. The Tribunal also held that dissolution following completion of liquidation, final distributions and filing of Form H was in accordance with statutory dissolution rules and affirmed the Adjudicating Authority's dissolution order.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
