https://www.taxtmi.com/caselaws?id=440731 The HC upheld that the current management was not liable for transitional credit relating to the period before the resolution plan approval date, as it was not the taxpayer during that time. The liability and credit pertaining to the earlier management cannot be transferred to the current management. However, the HC found error in the adjudicating authority's direction to recover the entire transitional credit amount with interest and penalties, ruling this contrary to SC precedents. Consequently, the petitioner was denied the claimed transitional credit of Rs. 92,13,412/- for the period prior to the resolution plan approval. The application was allowed in part, restricting transitional credit claims to the period post-approval and disallowing recovery of the full amount with penalties. en-us Tue, 11 Jul 2023 00:00:00 +0530 Mon, 04 Aug 2025 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=440731 The HC upheld that the current management was not liable for transitional credit relating to the period before the resolution plan approval date, as it was not the taxpayer during that time. The liability and credit pertaining to the earlier management cannot be transferred to the current management. However, the HC found error in the adjudicating authority's direction to recover the entire transitional credit amount with interest and penalties, ruling this contrary to SC precedents. Consequently, the petitioner was denied the claimed transitional credit of Rs. 92,13,412/- for the period prior to the resolution plan approval. The application was allowed in part, restricting transitional credit claims to the period post-approval and disallowing recovery of the full amount with penalties. Case-Laws GST Tue, 11 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=440731