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Statutory dues for taxes is Operational Debt: NCLAT
Case Law Details
- Case Name
- Pr. Director General of Income Tax Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi)
- Appeal Number
- Only available for paid members
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- Only available for paid members
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- NCLAT
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Pr. DGIT Vs M/s. Synergies Dooray Automotive Ltd. & Ors. (NCLAT, Delhi)
‘Operational Debt’ in normal course means a debt arising during the operation of the Company (‘Corporate Debtor’). The ‘goods’ and ‘services’ including employment are required to keep the Company (‘Corporate Debtor’) operational as a going concern. If the Company (‘Corporate Debtor’) is operational and remains a going concern, only in such case, the statutory liability, such as payment of Income Tax, Value Added Tax etc., will arise. As the ‘Income Tax’, ‘Value Added Tax’ and other statu...
