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![Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/500x300_2116697-conditional-repayment-linked-project-completion-not-financial-debt-nclat-upholds-nclts-rejection-insolvency-petition-taxscan.webp "Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]")
Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]
The Principal Bench of National Company Law Appellate Tribunal (NCLAT), Delhi has dismissed the appeal filed by the appellant The appellate tribunal...
![Pre‑Existing Disputes on Supply & Assignment: NCLAT upholds NCLT’s Dismissal of K-sure’s S 9 Petition [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/250x150_2116732-preexisting-disputes-on-supply-assignment-nclat-upholds-nclts-dismissal-of-k-sures-s-9-petition-taxscan.webp "Pre‑Existing Disputes on Supply & Assignment: NCLAT upholds NCLT’s Dismissal of K-sure’s S 9 Petition [Read Order]")
![Orissa HC Stays GST Demand Proceedings after Finding Audit Report Issued by Superintendent Instead of Proper Officer [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/250x150_2116780-orissa-hc-stays-gst-demand-proceedings-after-finding-audit-report-issued-by-superintendent-instead-of-proper-officer-taxscan.webp "Orissa HC Stays GST Demand Proceedings after Finding Audit Report Issued by Superintendent Instead of Proper Officer [Read Order]")
![Voluntary Service Tax Payment u/s 73(3) Constitutes Final Settlement, Not Mere Deposit: CESTAT Dismisses Refund Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/250x150_2116776-voluntary-service-tax-payment-733-constitutes-final-settlement-not-mere-deposit-cestat-dismisses-refund-appeal-taxscan.webp "Voluntary Service Tax Payment u/s 73(3) Constitutes Final Settlement, Not Mere Deposit: CESTAT Dismisses Refund Appeal [Read Order]")
![Non-Executive Director cannot be Treated as Wilful Defaulter without Proof of Involvement: Madras HC Quashes IOB Order [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/250x150_2116777-non-executive-director-cannot-treated-wilful-defaulter-without-proof-involvement-madras-hc-quashes-iob-order-taxscan.webp "Non-Executive Director cannot be Treated as Wilful Defaulter without Proof of Involvement: Madras HC Quashes IOB Order [Read Order]")
![Orissa HC Stays GST Demand Proceedings after Finding Audit Report Issued by Superintendent Instead of Proper Officer [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/750x450_2116780-orissa-hc-stays-gst-demand-proceedings-after-finding-audit-report-issued-by-superintendent-instead-of-proper-officer-taxscan.webp "Orissa HC Stays GST Demand Proceedings after Finding Audit Report Issued by Superintendent Instead of Proper Officer [Read Order]")
![GST ITC Refund Restricted to Direct Supply of Electricity to Bangladesh: AP High Court Rules SEIL’s Supplies Via PTC Domestic [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/500x300_2116679-gst-itc-refund-restricted-direct-supply-electricity-bangladesh-ap-high-court.webp "GST ITC Refund Restricted to Direct Supply of Electricity to Bangladesh: AP High Court Rules SEIL’s Supplies Via PTC Domestic [Read Order]")
![Delhi High Court Sets Aside Ex-Parte GST Order Against Logistics Firm, Remands Matter for Fresh Adjudication [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116540-delhi-high-court-sets-aside-ex-parte-gst-order-against-logistics-firm-taxscan.webp "Delhi High Court Sets Aside Ex-Parte GST Order Against Logistics Firm, Remands Matter for Fresh Adjudication [Read Order]")
![GST Rate Restructuring for Tobacco Products: Centre Notifies New Classification w.e.f. from Feb 1, 2026 [Read Notification]](https://images.taxscan.in/h-upload/2026/01/01/500x300_2116483-gst-rate-restructuring-tobacco-products-centre-notifies-classification-taxscan.webp "GST Rate Restructuring for Tobacco Products: Centre Notifies New Classification w.e.f. from Feb 1, 2026 [Read Notification]")
![ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]](https://images.taxscan.in/h-upload/2026/01/01/750x450_2116531-itat-holds-plr-applicable-for-benchmarking-taxscan.webp "ITAT Holds PLR Applicable for Benchmarking Interest on Rupee-Denominated CCDs, Deletes ₹9.35 Crore TP Adjustment [Read Order]")
![SCN Lacks Precise BAS Classification: CESTAT Sets aside Service Tax Demand against Amway Distributor [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/750x450_2111025-scn-lacks-precise-bas-classification-cestat-sets-aside-service-tax-demand-against-amway-distributor-taxscan.webp "SCN Lacks Precise BAS Classification: CESTAT Sets aside Service Tax Demand against Amway Distributor [Read Order]")
![Writ Jurisdiction Not Invocable at SCN Stage: Chhattisgarh HC Dismisses State Beverages Corporation’s Plea on Service Tax Demand [Read Order]](https://images.taxscan.in/h-upload/2025/12/19/500x300_2113176-chhattisgarh-hc-scn-writ-jurisdiction-state-beverages-service-tax-demand-taxscan.webp "Writ Jurisdiction Not Invocable at SCN Stage: Chhattisgarh HC Dismisses State Beverages Corporation’s Plea on Service Tax Demand [Read Order]")
![Service Tax Demand Based only on ITR–ST-3 Mismatch Unsustainable: CESTAT Holds Revenue must Establish Taxable Value before Levy [Read Order]](https://images.taxscan.in/h-upload/2025/12/06/500x300_2110562-service-tax-demand-trst-3-cestat-taxable-value-before-levy-taxscan.webp "Service Tax Demand Based only on ITR–ST-3 Mismatch Unsustainable: CESTAT Holds Revenue must Establish Taxable Value before Levy [Read Order]")
![When Dept Admits No Service Tax Liability, It cannot Deny Refund of Deposit made during Investigation on Limitation: Chhattisgarh HC [Read Order]](https://images.taxscan.in/h-upload/2025/12/08/500x300_2111017-chhattisgarh-hc-taxscan.jfif "When Dept Admits No Service Tax Liability, It cannot Deny Refund of Deposit made during Investigation on Limitation: Chhattisgarh HC [Read Order]")
![Construction of Govt. Residential Quarters to GSPHCL Not Taxable: CESTAT Drops Service Tax Demand on Works Contract but Upholds GTA Liability [Read Order]](https://images.taxscan.in/h-upload/2025/12/07/500x300_2110695-construction-govt-residential-quarters-gsphcl-taxable-cestat-drops-service-tax-demand-works-contract-upholds-gta-liability.webp "Construction of Govt. Residential Quarters to GSPHCL Not Taxable: CESTAT Drops Service Tax Demand on Works Contract but Upholds GTA Liability [Read Order]")
![Voluntary Service Tax Payment u/s 73(3) Constitutes Final Settlement, Not Mere Deposit: CESTAT Dismisses Refund Appeal [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/750x450_2116776-voluntary-service-tax-payment-733-constitutes-final-settlement-not-mere-deposit-cestat-dismisses-refund-appeal-taxscan.webp "Voluntary Service Tax Payment u/s 73(3) Constitutes Final Settlement, Not Mere Deposit: CESTAT Dismisses Refund Appeal [Read Order]")
![Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/750x450_2116697-conditional-repayment-linked-project-completion-not-financial-debt-nclat-upholds-nclts-rejection-insolvency-petition-taxscan.webp "Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]")
Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]
The tribunal observed that such conditional repayment lacked the commercial effect of borrowing and did not qualify as “financial debt” under Section 5(8) of the Insolvency and Bankruptcy Code (IBC).
Kavi Priya
![Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/CESTAT-CESTAT-Bangalore-Service-Tax-liquidated-damages-Taxscan.jpg "Service Tax Not Payable on liquidated damages collected from supplier on account of non-performance of the contracts: CESTAT [Read Order]")
Yogitha S. Yogesh
Rupesh Sharma
Saagarika Gopinath
Conditional Repayment Linked to Project Completion Not Financial Debt: NCLAT upholds NCLT’s Rejection of Insolvency Petition [Read Order]
The tribunal observed that such conditional repayment lacked the commercial effect of borrowing and did not qualify as “financial debt” under Section 5(8) of the Insolvency and Bankruptcy Code (IBC).
![Non-Executive Director cannot be Treated as Wilful Defaulter without Proof of Involvement: Madras HC Quashes IOB Order [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/750x450_2116777-non-executive-director-cannot-treated-wilful-defaulter-without-proof-involvement-madras-hc-quashes-iob-order-taxscan.webp "Non-Executive Director cannot be Treated as Wilful Defaulter without Proof of Involvement: Madras HC Quashes IOB Order [Read Order]")
![Auditor’s Clean Opinion Cannot Be Questioned without Proper Evidence: ICAI clears CA Accused of Stock Overvaluation [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/500x300_2116757-auditors-clean-opinion-cannot-questioned-without-proper-evidence-icai-clears-ca-accused-stock-overvaluation-taxscan.webp "Auditor’s Clean Opinion Cannot Be Questioned without Proper Evidence: ICAI clears CA Accused of Stock Overvaluation [Read Order]")
![Share Allotment before Receipt of Application Money Violates S 42: MCA Imposes ₹2.89 Lakh Penalty on Company and Directors [Read Order]](https://images.taxscan.in/h-upload/2026/01/02/500x300_2116689-share-allotment-before-receipt-application-money-violates-mca-imposes-penalty-company-directors.webp "Share Allotment before Receipt of Application Money Violates S 42: MCA Imposes ₹2.89 Lakh Penalty on Company and Directors [Read Order]")
