Customs valuation must use comparable contemporary imports, while confiscation fines and penalties require proportionate recalculation on reassessed v...
Depositor-protection proceedings prevail over corporate insolvency, while liquidators may recover chit receivables using copies of seized company reco...
Intermediary service classification fails where overseas admission facilitation is supplied independently, preserving export treatment and small-provi...
Satellite transponder bandwidth is telecommunication, not Business Support Service; foreign non-telegraph providers triggered no service tax liability...
Commitment proceedings gain extended timelines, structured defect refiling, and automatic resumption of inquiry after the adjusted completion period e...
A Section 9 insolvency petition was held not maintainable because the debt attributable to the corporate debtor alone did not meet the statutory minimum threshold under Section 4. The tribunal found that most invoices related to a sole proprietorship concern, while only a small portion stood in the name of the company. It held that the company and the proprietorship were separate legal entities, so liabilities of the proprietorship could not be aggregated with those of the corporate debtor merely because both were managed by the same person. The dismissal of the petition was therefore upheld.
A Section 9 insolvency petition was held not maintainable because the debt attributable to the corporate debtor alone did not meet the statutory minimum threshold under Section 4. The tribunal found that most invoices related to a sole proprietorship concern, while only a small portion stood in the name of the company. It held that the company and the proprietorship were separate legal entities, so liabilities of the proprietorship could not be aggregated with those of the corporate debtor merely because both were managed by the same person. The dismissal of the petition was therefore upheld.
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