Bombay High Court Quashes Sales Tax Notices Against Axis Bank in Liquidation Proceeding — No Liability for Tax Deducted at Source Under MVAT Act After Company's Winding Up. The Court held that the State cannot recover tax from a secured creditor who had no obligation to deduct tax at source under Section 42 of the Maharashtra Value Added Tax Act, 2002, as the deduction obligation arises only when payment is made to the dealer, and after winding up, the Official Liquidator is the proper authority....
The petitioner, Axis Bank Ltd., a banking company, filed a writ petition under Article 226 of the Constitution of India before the Bombay High Court seeking quashment of two notices dated 12th August ...
