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GST - Highlights / Catch Notes

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Refund of pre-deposit alongwith interest - CIRP - Approval of ...


Refund of Pre-Deposit with Interest Entitled Post-Resolution Plan Approval in Insolvency Proceedings.

April 1, 2024

Case Laws     GST     HC

Refund of pre-deposit alongwith interest - CIRP - Approval of Resolution Plan under IBC - Analyzing the insolvency proceedings and the subsequent approval of the resolution plan, the court concluded that the tax liability against the petitioner had been extinguished. Therefore, the rejection of the refund application by the revenue authority was deemed misconstrued and misdirected. The court emphasized the entitlement of the petitioner to the refund, considering the legal precedent established by the Supreme Court regarding resolution plans.

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