https://www.taxtmi.com/caselaws?id=758080 In a liquidation sale of a corporate debtor as a going concern, the Tribunal may grant consequential reliefs needed to make the acquisition workable, including directions on capital structure, creditor claims, operational liabilities, litigation consequences and other ancillary matters. It accepted that such non-tax reliefs could be issued to facilitate implementation of the sale. However, it declined a blanket taxation exemption and left tax-related prayers to the competent authorities, to be decided under the prevailing law, rules and regulations. The order therefore supports the going concern acquisition while preserving the jurisdiction of the tax authorities over fiscal liability. en-us Thu, 15 Feb 2024 00:00:00 +0530 Fri, 06 Sep 2024 18:49:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758080 In a liquidation sale of a corporate debtor as a going concern, the Tribunal may grant consequential reliefs needed to make the acquisition workable, including directions on capital structure, creditor claims, operational liabilities, litigation consequences and other ancillary matters. It accepted that such non-tax reliefs could be issued to facilitate implementation of the sale. However, it declined a blanket taxation exemption and left tax-related prayers to the competent authorities, to be decided under the prevailing law, rules and regulations. The order therefore supports the going concern acquisition while preserving the jurisdiction of the tax authorities over fiscal liability. Case-Laws Insolvency and Bankruptcy Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758080