Captive power transfer pricing and non-resident export commission rules support deletion of adjustments and withholding disallowance in discussed proc...
Cooperative society deposits, member-interest TDS exemption and credit-facility deduction claims require verification through records and supporting e...
Customs jurisdiction over EPCG condition breaches survives export-obligation discharge certificates, requiring alleged fraud and misdeclaration to be ...
Page of 4811
Press 'Enter' after typing page number.
981 to 1000 of 96208 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
VAT dues under Section 48 of the GVAT Act were treated as secured by a statutory first charge, but CST dues were not, because the CST Act created no corresponding charge and Section 9(2) did not import one. The Tribunal held that a statutory charge need not be registered to exist, and that the claimant's omission in the claim form did not defeat it where contemporaneous communications asserted the first charge. It also found no waiver or acquiescence, yet held that the security stood deemed relinquished under Regulation 21A because the creditor did not elect to realise it outside the liquidation estate. VAT dues therefore ranked under the secured-creditor distribution, while CST dues remained unsecured government dues.
VAT dues under Section 48 of the GVAT Act were treated as secured by a statutory first charge, but CST dues were not, because the CST Act created no corresponding charge and Section 9(2) did not import one. The Tribunal held that a statutory charge need not be registered to exist, and that the claimant's omission in the claim form did not defeat it where contemporaneous communications asserted the first charge. It also found no waiver or acquiescence, yet held that the security stood deemed relinquished under Regulation 21A because the creditor did not elect to realise it outside the liquidation estate. VAT dues therefore ranked under the secured-creditor distribution, while CST dues remained unsecured government dues.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4811 
Join Channel 
