TMI Blog2019 (7) TMI 478X X X X Extracts X X X X X X X X Extracts X X X X ..... ceedings were pending before the NCLT as well as the National Company Law Appellate Tribunal under the provisions of Insolvency and Bankruptcy Code, 2016. The assessment order passed and the books of accounts said to have been furnished by the Accounts Officer representing the IRP in the Insolvency proceedings though may not be unjustifiable but the principles of natural justice warrants an opport ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 6 and they are into the business of purchase and development of lands and as part of their business, they have taken up more than 35 projects in and around the Bengaluru, as contended. 4. It is the contention of the petitioner that when the company was under the moratorium and the Board was suspended, the respondent No.2 initiated proceedings under Section 39[1] of the Karnataka Value Add ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o object to the proposition notice. However, the officer of the company referred to in the order of reassessment, was representing the Interim Resolution Professional (IRP) in the proceedings before the NCALT. Hence, submits that the order impugned deserves to be set aside, providing an opportunity to the petitioner to file objections to the proposition notice and to put-forth its claim. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oceedings though may not be unjustifiable but the principles of natural justice warrants an opportunity to the petitioner to put-forth its claim inasmuch as the tax amount paid under the KVAT Act disputed by the prescribed authority. 8. Accordingly, the order impugned at Annexure-C is set aside and the matter is restored to the file of the prescribed authority to redo the assessment. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
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