TaxTMI 
TaxTMI 
TaxTMI 
2025 (7) TMI 700
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....nd also imposed equal penalty and also imposed penalty under Section 76 and 77. 2. Briefly the facts of the case are that the appellant is engaged in renting out commercial space in the Bus Terminal-cum-Commercial complex at Mohali, Punjab. The appellant is discharging its service tax liability under the taxable category of 'Renting of immovable property' and regularly filing its ST-3 returns. Same is substantiated from the copies of ST-3 returns for the disputed period which are enclosed as Annexure B. Further, the appellant has availed and utilized the Cenvat credit on 'Construction services's for the payment of service tax on output services for 'Renting of immovable Property Service' during the year 01.06.2009 to 01.03.2011. 2.2 The D....
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....to be abated, in view of the law laid down by the Hon'ble Supreme Court in the case of M/s Ghanashyam Mishra & Sons Pvt Ltd vs. Edelweiss Asset Reconstruction Company Ltd & Ors in Civil Appeal No. 8129 of 2019. 5. On the other hand, the learned Authorized Representative for the Revenue has also admitted the factum of the Resolution Plan approved by the NCLT, Chandigarh Bench vide its order dated 19.10.2023. 6. After considering the submissions made by both the sides and perusal of the Resolution Plan, we find that the identical matter has been considered by two coordinate benches of the Tribunal; by Mumbai Bench vide order dated 12.05.2023 in the case of M/s Jet Airways (India) Limited vs. Commr of Service Tax-V, Mumbai [vide Final Order ....
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....val of resolution plan by the Adjudicating Authority a creditor including the Central Government, State Government or any local authority is entitled to initiate any proceedings for recovery of any of the dues from the Corporate Debtor, which are not a part of the Resolution Plan approved by the adjudicating authority? ..... CONCLUSION 95. In the result, we answer the questions framed by us as under: (i) That once a resolution plan is duly approved by the Adjudicating Authority under subsection (1) of Section 31, the claims as provided in the resolution plan shall stand frozen and will be binding on the Corporate Debtor and its employees, members, creditors, including the Central Government, any State Government or any local autho....
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....& C. Circular No. 1083/04/2022-CX.9 F. No. 296/286/2021-CX. 9 Government of India Ministry of Finance (Department of Revenue) Central Board of Indirect Taxes & Customs, New Delhi Dated 23.05.2022 To All Principal Chief Commissioner(s)/ Chief Commissioner(s) of Customs/ Customs (Preventive)/ Customs & CGST, All Principal Chief Commissioner(s)/ Chief Commissioner(s) of CGST, Webmaster: [email protected] Madam/Sir, Subject: Standard Operating Procedure (SOP) for NCLT cases in respect of the Insolvency and bankruptcy Code (IBC) - reg. I am directed to inform the Insolvency and Bankruptcy Board of India has requested that role of GST and Customs authorities in certain key issues under the Insolvency and bankruptcy Code, 2016 needs....
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....he date on which the Resolution Plan was approved by the Learned NCLT, all claims stood frozen, and no claim, which is not a part of the Resolution Plan, would survive. 15. In that view of the matter, the appeals deserve to be allowed only on this ground. It is held that the claim of the respondent, which is not part of the Resolution Plan, does not survive. The amount deposited by the appellant at the time of admission of the appeals along with interest accrued thereon is directed to be refunded to the appellant." 7. However from the date of approval of the resolution plan by the NCLT, the appeal filed by the applicant has abated and CESTAT has become functus officio in the matters relating to this appeal. 8.1 In view of the order pa....