TMI Blog2011 (2) TMI 1327X X X X Extracts X X X X X X X X Extracts X X X X ..... those dues, which fall due after the cut-off date. The liabilities created, taxes falling due, assessed and demand raised after the cut-off date, do not fall within the protection of section 22 of the SICA Act. Any demand in pursuance of the assessment orders, prior to the cut-off date has to be classified as outstanding dues, to be protected by the rehabilitation scheme. In the case of reassessment, after remand of a period prior to cut-off date, the dues do not partake the character of current dues. The writ petition is allowed with declaration that demand for the years 1983-84 and 1986-87, on the orders passed by Assistant Collector, Grade I, Commercial Taxes, Modi Nagar, Ghaziabad shall be included, and be treated as covered by the r ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bmit fully tied up proposals jointly or severally, to IDBI (OA) within three months, in terms of honourable AAIFR order dated May 24, 2006. IDBI (OA) was directed to submit a fully tied up DRS to the Board within two months thereafter. The cut- off date of the scheme was to be taken as June 30, 2007. Notwithstanding the interim orders of status quo of the honourable AAIFR, the final cut-off date given by the Board continued to be June 30, 2007. 17.1. As per the standard guidelines of the Board for preparation of rehabilitation scheme, the company was required to be regular in the payment of all its current dues arising after the cut-off date, since the recovery of such dues was not covered in the proposed rehabilitation scheme. 17. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... assessment order dated February 11, 2009, after remand, is not current liability, and has to be treated as outstanding dues. He submits that section 3 read with section 3AAA of the Commercial Trade Tax Act provides for payment of tax at the rate provided. Where the demand is enhanced under section 8(9), fresh demand for the enhanced amount has to be raised. In the present case, the tax was assessed on the transactions made in the assessment years 1983-84 and 1986-87. The enhanced demand was also raised, relating to these years, which was subject-matter of appeal when the rehabilitation scheme was prepared. The rehabilitation scheme was finalized on March 12, 2007 with the cut-off date as June 30, 2007. The demand, prior to the cut-off da ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dues, which fall due after the cut-off date. The liabilities created, taxes falling due, assessed and demand raised after the cut-off date, do not fall within the protection of section 22 of the SICA Act. Any demand in pursuance of the assessment orders, prior to the cut-off date has to be classified as outstanding dues, to be protected by the rehabilitation scheme. In the case of reassessment, after remand of a period prior to cut-off date, the dues do not partake the character of current dues. Sri Anurag Khanna submits that the rehabilitation proposals have also been submitted by Sri M.K. Modi, and that Sri V.K. Modi, and that directions be issued to the Appellate Authority (AAIFR), where the matter is pending in pursuance to the orde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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