2023 (8) TMI 258

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....<br>Insolvency & Bankruptcy<br>[ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellant : Ms. Shwetal Shepal, Advocate For the Respondent : Ms. Anjali Sharma, Advocate ORDER I. A. No. 2269 of 2023 : This is an application praying for condonation of 14 days' delay in filing the Appeal. Ground taken in the application is that after Appellant cam....

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....l for the Respondent refuting the submission of learned counsel for the Appellant submits that Appellant cannot be treated to be Secured Creditor and said issue has already been considered and answered judgment of this Tribunal in "Company Appeal (AT) (Insolvency) No. 246 of 2022, Department of State Tax, Through the Dy. Commissioner of State Tax vs. Zicom Saas Pvt. Ltd. & Anr., decided on 07.02.2....

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....Limited" (supra), Section 48 of the GVAT Act was relied, which has been quoted in paragraph 2 of the Judgement which is to the following effect : "The short question raised by the appellant in this appeal is, whether the provisions of the IBC and, in particular, Section 53 thereof, overrides Section 48 of the GVAT Act which is set out herein below for convenience : - 48. Tax to b....

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....charge on the property of the dealer, or as the case may be, person." 9. When we compare the provisions of Section 48 of the provision of Gujarat Values Added Tax which was relied in "Rainbow Papers Limited" and the Provisions of Section 37 which is sought to be relied on in the present Appeal, distinction between the provisions is clear. Section 37 specifically uses the expression "subje....