2019 (7) TMI 1301

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cy<br>Mr S. J. Mukhopadhaya, Chairperson, Mr A. I. S. Cheema, Member (Judicial) And Mr Kanthi Narahari, Member (Technical) For The Appellant : Mr. Sunil Fernandes, Mr. Siddharth Sharma And Mr. Darpan Sachdeva, Advocates For The Respondents : Ms. Udita Singh, Advocate ORDER The 'Corporate Applicant' filed an application u/s 10 of Insolvency & Bankruptcy Code ('I&B' Code), 2016 for initi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ector General of Income Tax (Admn. & TPS) Vs. M/s. Synergies Dooray Automotive Ltd. & Ors. etc. - Company Appeal (AT)(Insolvency) No. 205 of 2017 etc. dated 20th March, 2019" wherein this Appellate Tribunal held and observed as follows:- 27. In "Swiss Ribbons Pvt. Ltd. & Anr. vs. Union of India & Ors.&#9472; Writ Petition (Civil) No. 99 of 2018", the Hon'ble Supreme Court while dealing wi....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....al authority." 28. From the plain reading of sub-section (21) of Section 5, we find that there is no ambiguity in the said provision and the legislature has not used the word 'and' but chose the word 'or' between 'goods or services' including employment and before 'a debt in respect of the payment of dues arising under any law for the time being in force and payable to the Central Governm....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....lue Added Tax' etc. come within the meaning of 'Operational Debt'. 30. For the said very reason, we also hold that 'Income Tax Department of the Central Government' and the 'Sales Tax Department(s) of the State Government' and 'local authority', who are entitled for dues arising out of the existing law are 'Operational Creditor' within the meaning of Section 5(20) of the 'I&B Code'." L....