Condonation of Delay: Tribunal directed condonation where rectification proceedings were pursued, ordering merits adjudication after opportunity to be...
Restriction of Input Tax Credit under Rule 86A applies only to fraudulently or ineligible availed credit; mere wrongful recipient availment is insuffi...
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Pre-existing disputes over quality of goods, delivery delay and account reconciliation did not bar Section 9 insolvency proceedings where the Corporate Debtor itself had prepared and communicated a consequences sheet quantifying those issues and crystallising the balance payable. The Tribunal treated the debtor's insistence that payment follow acceptance of that sheet as a conditional stance, not evidence of a subsisting dispute over the admitted amount. On the record, the balance debt was acknowledged, and the dispute was held to be hypothetical, spurious or illusory as to that crystallised liability. The appeal was dismissed and admission of the Corporate Debtor into CIRP under Section 9 was upheld.
Pre-existing disputes over quality of goods, delivery delay and account reconciliation did not bar Section 9 insolvency proceedings where the Corporate Debtor itself had prepared and communicated a consequences sheet quantifying those issues and crystallising the balance payable. The Tribunal treated the debtor's insistence that payment follow acceptance of that sheet as a conditional stance, not evidence of a subsisting dispute over the admitted amount. On the record, the balance debt was acknowledged, and the dispute was held to be hypothetical, spurious or illusory as to that crystallised liability. The appeal was dismissed and admission of the Corporate Debtor into CIRP under Section 9 was upheld.
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