Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
Helicopter charter classification requires effective control analysis, while territorial performance, reasoned credit orders and wilful suppression de...
Specified fund definition expands PAN exemption eligibility for registered alternative investment funds and qualifying International Financial Service...
Tax exemption for specified legal-services authority income applies retrospectively, subject to non-commercial activity, unchanged income sources, and...
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Statutory tax dues arising during CIRP are not extinguished by the clean slate theory on approval of a resolution plan, because the Supreme Court decisions on clean slate concerned pre-CIRP liabilities and did not govern post-commencement dues; the Court also held that extending immunity to such dues would be inconsistent with the IBC scheme and fiscal statutes. Section 238 of the IBC was not read to override State GST liabilities arising during CIRP, and Section 60(5) could not be used to confer on the NCLT jurisdiction to test the merits of tax assessments or other public law disputes under GST or income tax laws. The impugned orders were set aside and remanded for fresh consideration.
Statutory tax dues arising during CIRP are not extinguished by the clean slate theory on approval of a resolution plan, because the Supreme Court decisions on clean slate concerned pre-CIRP liabilities and did not govern post-commencement dues; the Court also held that extending immunity to such dues would be inconsistent with the IBC scheme and fiscal statutes. Section 238 of the IBC was not read to override State GST liabilities arising during CIRP, and Section 60(5) could not be used to confer on the NCLT jurisdiction to test the merits of tax assessments or other public law disputes under GST or income tax laws. The impugned orders were set aside and remanded for fresh consideration.
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