The judgment by the Delhi High Court in the case of Ireo Fiveriver Pvt. Ltd. vs Income Tax Department & Anr. underscores the importance of upholding the sanctity of approved Resolution Plans under the Insolvency and Bankruptcy Code. It reaffirms that once a resolution plan is approved, the successful resolution applicant cannot be subjected to additional liabilities arising from periods preceding the approval.
Department argued that it had not received the ITAT’s order through proper channels, thus absolving itself of responsibility. However, the court rejected this argument, emphasizing that once the Department became aware of the ITAT’s order, it was obligated to comply within the stipulated time frame.
Delhi HC explains why NFAC cannot invoke Section 144B of the Income Tax Act if a claim is not lodged within the Corporate Insolvency Resolution Process (CIRP) timeframe. Detailed analysis based on M Tech Developers Pvt. Ltd. Vs National Faceless Assessment Centre.
Delhi High Court’s judgment on Archit Khandelwal vs Pr. Commissioner of DGST Delhi regarding the retrospective cancellation of GST registration due to discontinuing business.
Delhi High Court’s judgment on Sadhna Kohli vs Sales Tax Officer highlights the invalidity of retroactive GST registration cancellation without valid reasons. Read the full analysis here.
Delhi High Court’s verdict emphasizes that merely having a pending DRC-01 is insufficient to reject a taxpayer’s request for GST registration cancellation. Read the full judgment here.
Delhi High Court rules that GST registration can’t be cancelled solely due to non-filing of returns, emphasizing the need for objective criteria. Read the detailed judgment here.
Delhi High Court rules in Kaycee Polymers Pvt. Ltd. vs Union of India that orders ignoring taxpayer replies are invalid. Get insights on this significant case.
Once it is seen that the disclosure was not full and truthful, the ITSC loses its jurisdiction to entertain such an application as well as to provide any immunity to the applicant from prosecution and penalties.
Delhi High Court mandates re-adjudication of flawed GST assessment order due to failure to consider detailed reply of assessee. Read the full judgment here.
