https://www.taxtmi.com/caselaws?id=402591 Under the Insolvency and Bankruptcy Code, a departmental attachment of the corporate debtor's assets under the Gujarat VAT regime, made during CIRP and continued into liquidation, could not be sustained against the liquidation estate because the Code has overriding effect and bars continuation of proceedings against the debtor. The Tribunal directed release of the attached assets in favour of the liquidator, while preserving the tax authority's right to lodge its claim before the liquidator. It also held that mutation or rectification of revenue records lay before the competent revenue authority, so that relief was not granted in these proceedings. en-us Tue, 15 Dec 2020 00:00:00 +0530 Thu, 07 Jan 2021 13:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=402591 Under the Insolvency and Bankruptcy Code, a departmental attachment of the corporate debtor's assets under the Gujarat VAT regime, made during CIRP and continued into liquidation, could not be sustained against the liquidation estate because the Code has overriding effect and bars continuation of proceedings against the debtor. The Tribunal directed release of the attached assets in favour of the liquidator, while preserving the tax authority's right to lodge its claim before the liquidator. It also held that mutation or rectification of revenue records lay before the competent revenue authority, so that relief was not granted in these proceedings. Case-Laws Insolvency and Bankruptcy Tue, 15 Dec 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=402591