Attachment and proclamation of sale of immovable property: limitation treated from financial year end; proclamation held within period, petition dismi...
Second Schedule attachment and validity of a post-notice mortgage: TRO cannot declare mortgage void ab initio; sale and appropriation allowed thereaft...
Limitation for final assessment under sections 144C and 153 treated jointly, resulting in quashing of timebarred assessment order and liberty to reviv...
Deductibility of settlement payments for securities law penalties and treatment of unexplained cash credits in share trading -- Tribunal upholds posit...
Grant or renewal of an excise licence remains governed by the Telangana Excise Act and the rules made under it, and is subject to statutory preconditions including payment of the prescribed fee. The insolvency adjudicatory forum cannot, under the Insolvency and Bankruptcy Code, override the State's sovereign regulatory domain by directing renewal of the licence or waiving statutory conditions. The direction was also unsustainable because the Excise Department was affected without being impleaded or heard. The impugned order was quashed, while leaving the respondent free to seek any remedy otherwise available in law for refund, adjustment, or renewal in accordance with excise law.
Grant or renewal of an excise licence remains governed by the Telangana Excise Act and the rules made under it, and is subject to statutory preconditions including payment of the prescribed fee. The insolvency adjudicatory forum cannot, under the Insolvency and Bankruptcy Code, override the State's sovereign regulatory domain by directing renewal of the licence or waiving statutory conditions. The direction was also unsustainable because the Excise Department was affected without being impleaded or heard. The impugned order was quashed, while leaving the respondent free to seek any remedy otherwise available in law for refund, adjustment, or renewal in accordance with excise law.
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