Specialized Investment Fund distribution now requires dedicated certification, while transitional recognition preserves existing qualified distributor...
Overlapping GST proceedings require Central and State authorities to designate one competent authority for coordinated adjudication of the same matter...
Composite healthcare supplies retain exemption when patient care is the contract's essential character, despite payment through an implementing agency...
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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