Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
Works contract classification governs composite layout-development contracts where VAT-paid goods are transferred alongside construction and infrastru...
Specified income tax exemption for pollution control body remains conditional on non-commercial activity, unchanged income character, and return filin...
Section 10A exclusion under the Insolvency and Bankruptcy Code must be computed with the correct contractual credit period, and invoices cannot be mechanically placed in the excluded period without reference to the supply terms. The tribunal found that goods from the Indian warehouse carried a 40-day credit period, so the remaining operational debt still crossed the Section 9 threshold. It also held that a later tripartite arrangement, executed after default, did not establish any pre-existing dispute, and that a mismatch between the demand notice and the insolvency claim was explained by post-notice part-payments and contractual interest. The rejection of the Section 9 application was set aside.
Section 10A exclusion under the Insolvency and Bankruptcy Code must be computed with the correct contractual credit period, and invoices cannot be mechanically placed in the excluded period without reference to the supply terms. The tribunal found that goods from the Indian warehouse carried a 40-day credit period, so the remaining operational debt still crossed the Section 9 threshold. It also held that a later tripartite arrangement, executed after default, did not establish any pre-existing dispute, and that a mismatch between the demand notice and the insolvency claim was explained by post-notice part-payments and contractual interest. The rejection of the Section 9 application was set aside.
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