Pre-existing operational debt disputes require genuine evidence, while undirected running-account payments may be appropriated on a first-in-first-out...
Agency in CNG distribution makes outlet operators commission agents, rendering taxable Business Auxiliary Service rather than purchasing goods for res...
Composite inpatient healthcare supply may retain exemption despite MRP medicine billing, while separate taxable sale characterisation remains disputed...
Working-capital adjustment determines whether software-services transfer-pricing margins fall within the statutory tolerance range, eliminating any ad...
Permanent establishment deductions upheld for expatriate salaries, direct costs and trading losses, while head-office costs require fresh classificati...
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Where a debt had been adjudicated by the DRT and a recovery certificate issued, the liability was treated as a financial debt, and section 7 CIRP could be initiated within three years from the recovery certificate, or at the latest from the DRT order. The applications against the corporate guarantors were therefore not barred by limitation, and they could not reopen limitation by relying only on the original NPA date where joint and several liability had already been fastened. The Tribunal also found that the applications contained material particulars by referring to the DRT orders, the recovery certificate and the quantified default, so rejection for want of a separately stated default date was erroneous. The impugned orders were quashed and the matters remitted for decision on merits.
Where a debt had been adjudicated by the DRT and a recovery certificate issued, the liability was treated as a financial debt, and section 7 CIRP could be initiated within three years from the recovery certificate, or at the latest from the DRT order. The applications against the corporate guarantors were therefore not barred by limitation, and they could not reopen limitation by relying only on the original NPA date where joint and several liability had already been fastened. The Tribunal also found that the applications contained material particulars by referring to the DRT orders, the recovery certificate and the quantified default, so rejection for want of a separately stated default date was erroneous. The impugned orders were quashed and the matters remitted for decision on merits.
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