Request-driven road restoration attracts reverse-charge GST, not governmental-function treatment or compensatory-damages status for business recipient...
Road restoration charges for commercial pipeline works are taxable Government services, with reverse charge liability and no public-function exemption...
Model-wise import cap monitoring cannot justify withholding used multifunction machines where all-India tracking is absent and full security is furnis...
Section 7 of the Insolvency and Bankruptcy Code requires the existence of a financial debt and default, but the Supreme Court held that insolvency cannot be used as a coercive recovery tool. Reading the quadripartite agreement, the Court found that the disbursement was made to the builder and was tied to construction, transfer, refund contingencies, non-transfer without consent, and security creation, making the dispute predominantly contractual rather than a simple lending default. As recovery proceedings were already pending before the DRT, initiation of CIRP was unwarranted and the refusal to admit the Section 7 application was upheld.
Section 7 of the Insolvency and Bankruptcy Code requires the existence of a financial debt and default, but the Supreme Court held that insolvency cannot be used as a coercive recovery tool. Reading the quadripartite agreement, the Court found that the disbursement was made to the builder and was tied to construction, transfer, refund contingencies, non-transfer without consent, and security creation, making the dispute predominantly contractual rather than a simple lending default. As recovery proceedings were already pending before the DRT, initiation of CIRP was unwarranted and the refusal to admit the Section 7 application was upheld.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4918 
