Form 26AS evidence requires successor-entity accounting verification after business transfer, while invoice-supported related-party advertising expend...
Money-laundering judgment timing requires awaiting the scheduled-offence decision despite continuation of the underlying trial where outcomes directly...
Accredited investor eligibility expands through securities-market exposure, while alternative investment fund disputes require prescribed resolution a...
Customs Assessment Portal centralises classification and valuation guidance to support consistent, transparent and informed compliance across stakehol...
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A VAT attachment could not survive a liquidation sale where the Department's claim was filed belatedly, rejected, and never admitted in insolvency. The Court distinguished Rainbow Papers, noting that it concerned the unamended regulation and corporate resolution, whereas the present case arose in liquidation under the amended claim process. It held that the Insolvency and Bankruptcy Code's waterfall mechanism and overriding effect prevent a pre-existing attachment from defeating the auction purchaser's title or being revived through writ proceedings. The Court also held that a statutory charge under the TNVAT Act does not, by itself, make the Department a secured creditor under the Code, and directed a contra entry in the encumbrance records.
A VAT attachment could not survive a liquidation sale where the Department's claim was filed belatedly, rejected, and never admitted in insolvency. The Court distinguished Rainbow Papers, noting that it concerned the unamended regulation and corporate resolution, whereas the present case arose in liquidation under the amended claim process. It held that the Insolvency and Bankruptcy Code's waterfall mechanism and overriding effect prevent a pre-existing attachment from defeating the auction purchaser's title or being revived through writ proceedings. The Court also held that a statutory charge under the TNVAT Act does not, by itself, make the Department a secured creditor under the Code, and directed a contra entry in the encumbrance records.
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