Insolvency petition based on admitted debt and default upheld; challenge for malicious initiation rejected, settlement may proceed under resolution fr...
Quashing of FIR and challenge to ECIR over alleged diversion of funds and preferential ESOP pricing dismissed after prima facie money-laundering findi...
Section 140 permits carry forward of eligible CENVAT credit into the GST regime where the credit is reflected in the return for the period ending immediately before the appointed day, and Section 140(5) does not negate that entitlement; it only extends credit availability for specified post-appointed-day receipt situations. The authority's view that pre-appointed-day credit could not transition was based on a reading of the provision and was unsustainable. The High Court set aside the order reversing the transitioned credit and directed consequential proceedings to be completed expeditiously.
Section 140 permits carry forward of eligible CENVAT credit into the GST regime where the credit is reflected in the return for the period ending immediately before the appointed day, and Section 140(5) does not negate that entitlement; it only extends credit availability for specified post-appointed-day receipt situations. The authority's view that pre-appointed-day credit could not transition was based on a reading of the provision and was unsustainable. The High Court set aside the order reversing the transitioned credit and directed consequential proceedings to be completed expeditiously.
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