https://www.taxtmi.com/caselaws?id=422228 The Liquidator rejected the Assistant Commissioner of Central Taxes' claim due to a 361-day delay in submission, citing limitations under the Insolvency and Bankruptcy Code. The Liquidator argued they lacked authority to condone delays, but agreed to accept the claim if directed by the Adjudicating Authority. Emphasizing government dues' priority, the Tribunal directed the Liquidator to accept the claim, highlighting the importance of timely submissions, authority to condone delays, and government dues' precedence in insolvency proceedings. The decision clarifies the acceptance of governmental claims and their impact on creditor payment hierarchy. en-us Thu, 05 May 2022 00:00:00 +0530 Thu, 12 May 2022 08:43:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=422228 The Liquidator rejected the Assistant Commissioner of Central Taxes' claim due to a 361-day delay in submission, citing limitations under the Insolvency and Bankruptcy Code. The Liquidator argued they lacked authority to condone delays, but agreed to accept the claim if directed by the Adjudicating Authority. Emphasizing government dues' priority, the Tribunal directed the Liquidator to accept the claim, highlighting the importance of timely submissions, authority to condone delays, and government dues' precedence in insolvency proceedings. The decision clarifies the acceptance of governmental claims and their impact on creditor payment hierarchy. Case-Laws Insolvency and Bankruptcy Thu, 05 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=422228