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...
Straight-line lease rental accounting change results in penalty quashed where disclosed accounts and bona fide arguable accounting interpretation exis...
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4817 
Join Channel 
