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2023 (7) TMI 925 - AT - Income TaxRecovery of income tax dues - Assesee Company under CIRP processings - Supremacy of IBC over all other Central and State statutes including Income-tax Act - HELD THAT:- Hon’ble Supreme Court in case of PCIT vs. Monnet Ispat and Energy Ltd. [2018 (8) TMI 1775 - SC ORDER] held as Given section 238 of the Insolvency and Bankruptcy Code, 2016, it is obvious that the Code will override anything inconsistent contained in any other enactment, including the Income-tax Act. Thus 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 AR for the assessee stated at Bar that he does not press these appeals and same may be dismissed as withdrawn.
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