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Duty drawback demand post approval of resolution plan not tenable: Bombay HC
Case Law Details
- Case Name
- Karthik Alloys Limited Vs Union of India (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Karthik Alloys Limited Vs Union of India (Bombay High Court)
Bombay High Court held that demand in respect of the duty drawbacks post approval of resolution plan is liable to be waived off in terms of section 31A of the Insolvency and Bankruptcy Code, 2016. Accordingly, writ stand allowed.
Facts- Post CIRP of the petitioner, the Assistant Commissioner of Customs, Goa (Respondent No.2) issued an order dated 21.10.2024 directing the petitioner to pay an amount of Rs. 10,01,724/- as duty drawbacks u/s. 75(1) of the Customs Act, 1962 along with interest u/s. 75A (2) read with rule...
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