Home Case Index All Cases VAT and Sales Tax VAT and Sales Tax + HC VAT and Sales Tax - 2016 (1) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2016 (1) TMI 1157 - HC - VAT and Sales TaxRecovery of arrears of Sales Tax - Sick industrial unit - Held that: - the decision in Raheja Universal did not take a different view but actually affixes the seal of approval, on the view taken in Corromandal Pharmaceuticals [1997 (3) TMI 452 - SUPREME COURT OF INDIA ] wherein it was held that scheme for rehabilitation or restructuring of a sick industrial company undertaken by a specialized body like the BIFR/AAIFR should, as far as legally permissible, remain obstruction free and the events should take place as pre-ordained, during consideration and successful implementation of the formulated scheme - jurisdiction is vested in BIFR/AAIFR to issue directives, declarations and prohibitory orders within the rationalized scope and limitations prescribed under Section 22(1), 22(3) and 22A of the Act of 1985 - Appeal is dismissed.
|