Validity of faceless assessment procedure challenged for jurisdictional AO intervention mid-remand, resulting in quashing of assessment for procedural...
Inventory write-off and fraudulent/wrongful trading allegations in corporate insolvency led to director liability principles applied and appeal dismis...
An approved corporate insolvency resolution plan was treated as ative, and because the State had not lodged its claim in the insolvency proceedings and its challenges to the approval order had failed, it could not continue the impugned recovery action or keep the petitioner's input tax credit blocked. The Court quashed the notice and directed unblocking of the ITC and release of the amount admissible in law. This relief was granted without prejudice to any other recovery action that may remain available to the State under law.
An approved corporate insolvency resolution plan was treated as ative, and because the State had not lodged its claim in the insolvency proceedings and its challenges to the approval order had failed, it could not continue the impugned recovery action or keep the petitioner's input tax credit blocked. The Court quashed the notice and directed unblocking of the ITC and release of the amount admissible in law. This relief was granted without prejudice to any other recovery action that may remain available to the State under law.
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