Prohibited importation of cosmetics without prior regulatory registration attracts seizure and confiscation; warehousing or re export claims do not cu...
Provisional release on security permitted where cash deposit plus bond secures differential duty; classification and treaty benefits referred for deci...
Customs Valuation Rule Sequence must be followed; single-comparator re-determination and penalties set aside without comparability or proof of mis-dec...
Separately Identifiable Services: transportation found to be the essential character, so Cargo Handling classification and extended limitation rejecte...
Once a resolution plan is approved under Section 31 of the IBC, claims not forming part of the plan, including prior-period statutory dues, stand extinguished and cannot be enforced against the corporate debtor. Applying the Supreme Court rulings in Satish Kumar Gupta and Ghanashyam Mishra, the HC held that the approved plan bound all stakeholders, including Government authorities, so pre-CIRP income-tax demands could not be adjusted against refund amounts. The impugned adjustment of refunds for the relevant assessment years was therefore quashed as unsustainable in law.
Once a resolution plan is approved under Section 31 of the IBC, claims not forming part of the plan, including prior-period statutory dues, stand extinguished and cannot be enforced against the corporate debtor. Applying the Supreme Court rulings in Satish Kumar Gupta and Ghanashyam Mishra, the HC held that the approved plan bound all stakeholders, including Government authorities, so pre-CIRP income-tax demands could not be adjusted against refund amounts. The impugned adjustment of refunds for the relevant assessment years was therefore quashed as unsustainable in law.
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