https://www.taxtmi.com/caselaws?id=367374 Recovery of a transferee company's admitted tax liabilities under the Madhya Pradesh VAT Act was not stayed by a sanctioned BIFR scheme applicable to the transferor company. The Court held that the scheme's benefits and concessions were confined to the transferor, and the petitioner could not defer payment of its own dues by relying on that protection. It also noted that relief under the sick industrial regime was no longer available in view of the later legal position. The challenge to the demand notice and garnishee proceedings therefore failed, and the writ petition was dismissed. en-us Thu, 12 Jul 2018 00:00:00 +0530 Thu, 20 Sep 2018 08:19:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=367374 Recovery of a transferee company's admitted tax liabilities under the Madhya Pradesh VAT Act was not stayed by a sanctioned BIFR scheme applicable to the transferor company. The Court held that the scheme's benefits and concessions were confined to the transferor, and the petitioner could not defer payment of its own dues by relying on that protection. It also noted that relief under the sick industrial regime was no longer available in view of the later legal position. The challenge to the demand notice and garnishee proceedings therefore failed, and the writ petition was dismissed. Case-Laws VAT and Sales Tax Thu, 12 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=367374