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2021 (4) TMI 479 - AT - Income TaxCompany insolvency proceedings - Overriding effect of section 238 of the Insolvency and Bankruptcy Code, 2016 - directions for liquidation of the assessee company by appointing Shri Anil Kohli, Resolution Professional as Liquidator under section 33(2) of the Insolvency and Bankruptcy Code, 2016 - HELD THAT:- Provisions contained under section 238 of "the Code" are having an overriding effect over all other Central and State statutes including Income-tax Act as held by Hon'ble Supreme Court in case of PCIT vs. Monnet Ispat and Energy Ltd.[2018 (8) TMI 1775 - SC ORDER] In view of the matter, section 238 of the Code will have overriding effect over all other Central and State statutes including the Income-tax Act and all the claims including claim of the Income-tax Department under the Income-tax Act, 1961 shall be entertained by the Official Liquidator u/s. 53(1) of the Code. Keeping in view all these facts, ld. AR for the assessee stated at Bar that he does not press this appeal and same may be dismissed as withdrawn. Consequently, present appeal is dismissed as withdrawn having been become infructuous.
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