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...
Data transmission equipment classification under CTSH 8517 62 remains distinct from residual classification, with exemption evidence requiring scrutin...
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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