NCLAT dismissed appeal challenging treatment of tax claims as ...

Tax Claims Under IBC Resolution Plan Classified as Operational Debt, NCLAT Upholds Section 30(2)(b) Treatment.

January 25, 2025

Case Laws IBC AT

NCLAT dismissed appeal challenging treatment of tax claims as operational debt under IBC resolution plan. Tribunal affirmed that Section 11E of Central Excise Act and Section 82 of CGST Act create explicit exceptions regarding IBC provisions. The appellant's tax claims were correctly classified as operational debt, eligible for payment u/s 30(2)(b). No violation found as payment exceeded liquidation value u/s 53(1) waterfall mechanism. Tribunal distinguished this from Gujarat VAT precedent, noting Central Excise Act's distinct provisions. Resolution plan approval upheld as compliant with statutory requirements for operational creditor treatment of tax claims.

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NCLAT dismissed appeal challenging treatment of tax claims as ...

Tax Claims Under IBC Resolution Plan Classified as Operational Debt, NCLAT Upholds Section 30(2)(b) Treatment.

January 25, 2025

Case Laws IBC AT

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